Informed.IQ Selected for Sixth FIS Fintech Accelerator Program
FIS Fintech Accelerator program, in Partnership with The Venture Center, connects high-potential fintechs with global banking network
SAN FRANCISCO, June 11, 2021 /PRNewswire-PRWeb/ -- Informed.IQ today announced that it has been selected to participate in the sixth FIS Fintech Accelerator program, in partnership with The Venture Center. The FIS Fintech Accelerator program brings together subject matter experts, financial service executives and fintech companies to cultivate innovative technologies that advance the financial services industry.
"Informed.IQ being chosen for the FIS Fintech Accelerator program is an immense honor," said Justin Wickett, CEO of Informed.IQ. "Our document verification solution is primed to help bankers and financial institutions innovate throughout the ongoing digital revolution."
Informed.IQ provides financial institutions with the ability to automate the verifications of income, assets, residence, insurance, and other consumer application data points, enabling real-time and more reliable credit decisions and funding. Informed.IQ performs these verifications in seconds with 99% accuracy, versus the industry standard of 85-90% achieved in manual processes. Financial institutions get to set their own policies and procedures, which enables verifications to be automated in-line with each lender's requirements instantly, regardless of what time of day the application is received.
"Congratulations to Informed.IQ, one of the innovative and forward-thinking companies selected for the 2021 FIS Fintech Accelerator program," said Ariel Mendiola, head of FIS Ventures. "We're excited to start working with this year's participants to help them shape and refine their ideas to meet current and emerging customer needs."
"The companies in this year's program are uniquely positioned to speak to real-world challenges today's financial services industry faces every day," Wayne Miller, executive director of The Venture Center said. "As the company founders meet with hundreds of decision-makers and subject matter experts over the course of 12-weeks, they will solidify their foundations and will be prepared to meet accelerated growth head on. We're thrilled to be partners on this exciting journey."
To learn more about the FIS Fintech Accelerator program, visit http://www.venturecenter.co/fisfintech.
About Informed.IQ
San Francisco-based Informed.IQ uses machine learning and AI technologies to instantly verify income, assets, residence, insurance and other consumer data points, enabling real-time and more reliable credit decisions that better comply with Fair Lending laws. Informed.IQ's machine learning models are trained to process hundreds of different types of documents and consumer-permissioned data sources, automating stipulation clearance for lenders. In 2020, Informed.IQ processed close to a million consumer credit applications for several major US lenders, automating over $91 billion in loan originations to date. Informed.IQ's AI automates verifications with a 99% accuracy in seconds with no humans-in-the-loop. Originally focused on auto lending, where five of the top ten auto lenders use Informed.IQ, financial institutions now use Informed.IQ's technology to help offer mortgages, credit cards, and automated bank account openings to their customers. Learn more at http://www.informed.iq.
About FIS
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor's 500® Index. To learn more, visit http://www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).
About The Venture Center
The Venture Center's immersive accelerator programs are designed to accelerate the growth of early-to-late stage companies and help validate their solutions for real-world problems. Our methodology provides a unique opportunity to connect with bank executives, receive seed investment, and learn from a comprehensive curriculum aiding in strategically addressing go-to-market, business, and finance challenges. Learn more at http://www.venturecenter.co. Follow The Venture Center on Facebook, LinkedIn, Twitter(@VentureCenter), and Instagram.
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Media Contact
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SOURCE Informed.IQ
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