Tallahassee, FL. and San Francisco, CA; October 25, 2022 – F&I Sentinel and Informed.IQ are partnering to evolve digital lending by providing a comprehensive service focused on verification and compliance. Informed.IQ, provider of AI-based software that verifies, streamlines, and optimizes loan processing, will combine efforts with F&I Sentinel’s CITADEL® solution which provides a turnkey compliance solution with respect to the financing and resolution of F&I products to further address the rapidly changing regulatory environment, CFPB and state regulations, limit class action exposure and protect financial institutions and consumers. As a result, loans will be processed faster and more accurately with less fraud and audit risk, providing real-time verifications backed by compliance experts.
F&I Sentinel is at the intersection of technology, innovation, and compliance. With over 50 years of combined regulatory compliance experience specializing in the compliance of F&I products at both the State and Federal levels, the company saw value in integrating with Informed.IQ, a best-in-class automation solution provider in the consumer and auto finance industries. Six of the top 10 auto lenders trust Informed to drive efficiency in this rapidly evolving environment and can now add F&I Sentinel’s robust compliance capabilities to ensure that lenders and their customers are protected.
Stephen McDaniel, CEO of F&I Sentinel, said, “We continue to see an increased need for lenders to implement an end-to-end compliance management system concerning the financing and resolution of F&I products. Together, we will provide faster, more effective financing and continued investment in products and platforms within the vehicle financing ecosystem.”
Informed’s AI and modeling perform complex calculations, ensuring accuracy, identifying omissions, reducing bias and combating fraud. With a 99% accuracy rate and guaranteed service rates, lenders and dealers can focus less on legal and regulatory concerns and more on developing strong customer relationships.
“F&I Sentinel adds an additional mitigation layer against litigation and reputational risk, providing cutting-edge compliance solutions. We are excited to continue providing innovative technology and proprietary analytics to impact the future of consumer finance,” said Justin Wickett, CEO of Informed.IQ.
Informed.IQ’s technology goes beyond image recognition, detecting defects and omissions, and providing insights – in addition to providing real-time, automated loan processing capabilities. Informed’s AI software enables lenders to reduce bias, 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 can process hundreds of document types and consumer-permissioned data sources, automating stipulation clearance. In 2021, Informed processed over 3.4 million consumer 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 the solution for mortgages, credit cards, personal and student loans, and automated bank account openings. Founded in 2016, Informed.IQ raised $20M in 2021 from notable investors including Nyca Partners and US Venture Partners. To learn more, visit informediq.com and follow Informed on LinkedIn.
About F&I Sentinel
F&I Sentinel is the automotive industry’s leading compliance and regulatory risk mitigation solutions provider. F&I Sentinel continuously monitors marketplace developments across the United States to ensure that F&I products comply with corporate financing requirements, meet fiscal viability standards, and provide value to the consumer. F&I Sentinel’s FAIRRCalc® proprietary software provides real-time GAP waiver refund quotes inclusive of cancellation fees to automotive finance companies. F&I Sentinel is a privately owned Tallahassee, Florida-based company founded in 2018 to serve the automotive finance industry. For more information about our innovative solutions, please visit F&I Sentinel and follow us on LinkedIn.