New Orleans, LA and San Francisco, CA; September 20, 2022 – Informed.IQ, provider of AI-based software that verifies consumer credit and auto applications, enables Crescent Bank to better serve their dealers with ai-driven automation, making it easier to submit documents, clear stipulations, speed the lending process and ensure timely funding. They’ll receive accurate consumer income calculations and validation of applicant data, faster, more accurate loan processing and reduced fraud risk.
With this new operational enhancement Crescent Bank, continues to offer cost effective solutions for dealers while maintaining exceptional customer service and growing their lending footprint nationwide. Lowering the cost of credit by automating verifications improves their ability to support consumers and dealers.
“Partnering with Informed.IQ ensures we are keeping up with digital technology while enabling us to focus on personal relationships with our customers and making a better experience for our dealers,” said Geoff Benedict, SVP – Head of Lending, Crescent Bank.
Informed’s AI and modeling perform complex calculations ensuring accuracy, identifying omissions, and combating fraud. With a 99% accuracy rate and guaranteed service rates, dealers can focus less on collecting and validating data and more on developing strong customer relationships.
“Crescent Bank is a great example of a forward-thinking bank leveraging cutting edge technology to better serve their dealers,” said Justin Wickett, Informed.IQ CEO. “They understand the importance of improving the dealer and customer experience.”
Informed.IQ’s technology goes beyond image recognition and confirmation of the document’s contents. With real-time, no-touch loan processing capabilities, Informed enables lenders to comply with regulatory requirements and be audit-ready.
Informed.IQ uses AI and ML to instantly verify income, assets, residence, insurance, auto and credit stipulations, and more, enabling real-time, reliable credit decisions without bias. Our models process hundreds of document types and consumer-permissioned data sources, automating stipulation clearance. In 2021, Informed processed over 3.4 million credit applications, automating $110+ billion in loan originations to date. The solution automates verifications with 99% accuracy in seconds with no humans-in-the-loop.
Originally focused on auto lending, where six of the top ten auto lenders use Informed, financial institutions now use Informed for mortgages, credit cards, personal and student loans, and automated bank account openings. Visit informediq.com and follow Informed on LinkedIn.
About Crescent Bank
Crescent Bank is a New Orleans based community bank specializing in auto lending and banking services. Named in homage of the “Crescent City”, its auto lending is sourced from its nationwide dealership network. Crescent Bank uses sophisticated risk modeling and data analytics to make intelligent and competitive lending decisions. Banking services are provided in person to the greater New Orleans metropolitan area, and online across the country. Crescent Bank’s deposit products, particularly Certificates of Deposit, are offered at some of the most attractive interest rates in the market.
We’re committed to providing courteous and professional service and enriching the financial lives of our customers. We employ more than 400 people across the country and proudly service customers nationwide.