Informed

The firm's core business revolves around providing turn-key AI and robotic process automation solutions to lenders. This technology performs real-time verification of income, assets, identity, residence, and insurance. The platform targets consumer lenders, including banks and credit unions, operating in markets such as auto loans, mortgages, personal loans, and credit card originations. Clients include major financial institutions like Ally Financial and Westlake Financial, with reports indicating seven of the top ten U.S. consumer lenders utilize its technology. The business model is structured as a Software as a Service (SaaS), where pricing is based on contract duration and usage volume.

Informed's product employs machine learning models trained on a vast dataset, including over 66 million records, to process hundreds of document types with what the company reports as 99% accuracy, a significant increase from manual review standards. The platform goes beyond simple optical character recognition (OCR) by using a knowledge graph and verticalized AI to validate data, calculate income according to each lender's specific policies, and detect fraudulent documents. This automation has facilitated the processing of over $125 billion in loan originations. In May 2021, the company secured $20 million in a Series A funding round co-led by Nyca Partners and US Venture Partners to support its expansion.