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American Banker – How Ally uses AI to approve auto loans

By Penny Crosman | May 05, 2021 Ally Financial says it has found a way to take much of the manual work out of processing auto loan applications. It's using artificial intelligence software developed by a San Francisco fintech called Informed.IQ that verifies documents...

Informed.IQ Announces Series A Funding of $20 million

SAN FRANCISCO - Informed.IQ, a technology company used by financial institutions to instantly and accurately verify income, assets, residence, and other loan origination data and documents has raised $20 million in a Series A round of funding. This investment enables...

Informed.IQ uses Amazon Textract as a building block

You can now use Amazon Textract, a machine learning (ML) service that quickly and easily extracts text and data from forms and tables in scanned documents, for workloads that are subject to Service Organization Control (SOC) compliance and International Organization for Standardization (ISO) compliance.

AWS Announces General Availability of Amazon Textract

We have used Amazon Textract to analyze tens of thousands of loan documents on behalf of financial institutions, and our own software-as-a-service offering has been enhanced by the service, enabling us to identify 95% of the defects in loan application packages and help banks reduce their manual data entry.

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