Informed.IQ Joins Forces with Fuse for AI Solutions

Artificial intelligence verification company Informed.IQ has partnered with loan origination system Fuse to launch a new solution aimed at enhancing fraud detection and streamlining verifications for financial institutions. This collaboration is designed to reduce operating expenses, detect income fraud more efficiently, shorten loan processing times, and consolidate relevant information within the loan origination system for easy access by lenders.
This partnership will enable Fuse’s diverse customer base, spanning consumer, commercial, and auto lending sectors, to leverage Informed.IQ’s AI-powered technology across various lending verticals. The initiative comes in response to the growing sophistication of fraudsters, some of whom are utilizing AI to commit financial crimes. The financial industry is moving towards real-time solutions to combat these threats more effectively.
A recent PYMNTS Intelligence report reveals that 70% of financial institutions now employ AI and machine learning to combat fraud, a significant increase from previous years. However, the development of AI and ML tools for fraud prevention can be expensive, leading many institutions to rely on third-party vendors for these technologies.
The partnership between Informed.IQ and Fuse represents a strategic move to bolster the security and efficiency of the lending process, highlighting the critical role of AI and ML in the ongoing fight against financial fraud.