Bank Automation Summit Brings Industry Leaders Together to Explore the Future of Banking The Bank Automation Summit brought together banking professionals, technology experts, and thought leaders from around the world earlier this month. We discussed the latest developments in banking automation and explored new opportunities for innovation in the financial industry. The two-day event was …
As a leading provider of financial transparency for the auto industry, we are dedicated to sharing our knowledge and insight to boost the prosperity of communities and lenders we serve. Regarding workplace diversity, equity, and inclusion (DEI), there are notable trends and insights that support an overall strategy: Authentic Relationships Drive Diversity Building authentic relationships …
Low income car buyers face many challenges when applying for auto loans. And while that isn’t disputed, the root cause of the friction is often debated. The hope is that we protect consumers from predatory lending while making it easy and acceptable to obtain credit – without making people jump through hoops. Our data shows …
Lenders Champion the Way Towards Income Inclusivity Read More »
In 2023, lenders are anticipating fraud losses and litigation expenses. Q4 2022 earnings calls had a constant theme — risks and controls, and digital transformation are priorities for many of the top lenders. Originations seem to be trending down and charge offs are increasing, as lenders found their credit policies riskier than expected. But, lenders …
Here’s an eye-opener for you – 38% of car buyers earning overtime will under-report their incomes by 5% or more. Over half of the car buyers who auto lenders ask to verify their income earn overtime pay (based on Informed analyzing a sample of 125,000 paystubs submitted in the last 30 days). Car buyers (and …
How the High Cost of Compliance affects Consumers Read More »
At Informed, we know auto lending. Six of the top ten US auto lenders use our service in their lending process and we’ve learned quite a bit from that experience. On the technology front, we have multiple patents and received two provisional patents in 2022. With AI and Machine Learning, we perform validation checks on …
In this ever-shifting environment, lenders face many challenges: decelerating global growth, high inflation, structural economic change, tighter central bank policies, and high cybersecurity risks. For some, these risks are causing decelerating loan growth and declining earnings. The continued success of regulators targeting operations will continue if organizations focus solely on manual solutions and controls. Several …
4 Compliance Issues We’re Hearing from Auto Lenders Read More »
Navigating Compliance in Turbulent Times The governance, risk management, and compliance (GRC) capabilities lenders have in place today face new challenges from turbulence in the economy and the industry. Let’s look at some of the issues confronting lenders and detail how to tackle them as they mature their organization’s ability to build a stronger compliance, …
How Lenders Can Maintain Compliance For The Auditors, the Fed, and CFPB in 2023 Read More »
It’s budget season, and the Informed team is showing clients how incorporating investment in artificial intelligence into their operational model delivers value and a solid financial return. We have unlocked a proven strategy yielding results, turning your originations channel into a profit center. The following ROI use cases demonstrate the quantifiable value we’ve delivered to …
I’m still catching my breath after another amazing Auto Finance Summit (AFS) where Informed has been a proud sponsor for the past few years. The growth we have seen and the partnerships formed continue to gather speed. We were thrilled by multiple customer shout-outs from the stage, heavy booth traffic, and happy customers stopping by …
