Collaboration set to modernize automotive financing, supporting a fully digital buyer experience

In its work to help simplify and streamline the complex landscape of automotive financing, Wolters Kluwer Compliance Solutions has agreed with Informed.IQ to distribute an automated technology solution that modernizes the vehicle lending lifecycle by using digitized processes and artificial intelligence (AI). The offering utilizes Wolters Kluwer’s market-leading eVault capabilities with Informed.IQ’s AI copilot solution to review, validate, and store financing documents.

“The vehicle lending industry today is a complex mix of intricate, diverse systems—and often manual processes—involving collecting and validating disparate data from various sources. As a result, the financing workflow suffers from inefficiencies in contract tracking, portfolio management, and data consistency,” said Vikram Savkar, Executive Vice President and General Manager of Wolters Kluwer Compliance Solutions. “Collaborating with Informed.IQ allows us to leverage the power of AI to help address the industry’s need for accelerated, automated vehicle loan operations without sacrificing compliance.”

Wolters Kluwer eVault technology provides lenders Digital Asset Certainty™ of authoritative loan records within a comprehensive eAsset® lifecycle management platform, and Informed.IQ’s user interface ensures a smooth journey for funding analysts. The result is a compliant and accelerated path to capital market monetization, real-time onboarding, expedited funding processes and, for consumers, an enhanced finance and insurance experience.

The Informed.IQ solution fits into a lender’s existing loan origination and processing workflows, delivering flexibility for underwriting, funding, and portfolio management stages. This solution creates a seamless review and validation of documents provided by consumers and dealers. Its approach extends beyond standard verification, giving valuable insights into income misrepresentation through documentary and non-documentary validation. The solution leverages data from more than 60 million records processed and addresses issues such as income overstatement and understatement, fraud detection, legal compliance, and optimization of loan underwriting.

“The integration with Wolters Kluwer technology accelerates automated verifications and funding for lenders by removing tedious integration work and providing a holistic approach to funding,” said Informed.IQ Co-founder and CEO Justin Wickett. “Top lenders continue to embrace AI and digital-focused strategies as a competitive advantage, and together we are proud to offer a new, market-leading solution with our technology.”

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. financial services firms. The business sits within Wolters Kluwer’s Financial & Corporate Compliance (FCC) division.

Informed.IQ uses AI/ML to instantly verify income, assets, residence, insurance, auto stipulations, credit stipulations and more, enabling real-time, reliable credit decisions without bias. Its models are trained to process hundreds of document types and consumer-permissioned data sources, automating stipulation clearance for lenders. In 2023, Informed.IQ processed more than 6 million consumer credit applications for U.S. lenders, automating over $125 billion in loan originations to date.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.

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