Tom Oscherwitz Joins Informed.IQ as VP of Legal and Regulatory Advisor
Sunday, April 16, 2023
SAN FRANCISCO, March 14, 2023 /PRNewswire/ -- Informed.IQ, a fintech developer of AI-based software that instantly and accurately verifies loan origination data and documents for financial institutions, announced the addition of Tom Oscherwitz as its Vice President of Legal Affairs.
Tom brings more than 20 years of financial services experience, both as a regulator and as a legal executive. A day-one employee at the Consumer Financial Protection Bureau (CFPB), Tom spent almost a decade helping build the CFPB, and was responsible for launching its AI Policy and consumer reporting supervision programs. Most recently, Tom led Policy and Regulatory Affairs for FairPlay.AI.
"Tom joins Informed.IQ at an exciting time as we are experiencing phenomenal growth," said Justin Wickett, CEO of Informed.IQ. "Tom's unique combination of regulatory insight and fintech business experience, is a great fit for Informed as we embark on the next phase of our journey."
Prior to the CFPB, Tom worked at ID Analytics, where he held a variety of executive roles including Vice President of Government Affairs, Chief Privacy Officer, and head of regulatory compliance. Previously, he served as counsel to Senator Dianne Feinstein (D-Cal.) representing her on the Senate Judiciary Subcommittee on Terrorism, Technology, and Homeland Security.
"I've spent my career operating at the intersection of consumer protection, big data analytics, and financial services. I'm thrilled to apply my expertise and experience at Informed. I'm so excited to join the Informed team helping lenders leverage AI solutions to transform consumer lending."
Informed.IQ is the fastest growing supplier of verification software to the auto finance industry, counting the majority of the country's top auto lenders as customers. 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.
About Informed.IQ
Informed uses AI and ML to instantly verify income, assets, residence, insurance, auto stipulations, credit stipulations and more; enabling real-time, reliable credit decisions without bias. Informed's ML models are trained to process hundreds of document types and consumer-permissioned data sources, automating stipulation clearance for lenders. In 2022, Informed processed over 4 million consumer credit applications for major US lenders, automating over $110 billion in loan originations to date. In 2023 the company expects to see 40% of US auto loans.
Informed automates verifications in seconds with no humans-in-the-loop. Originally the company focused on auto lending, where seven of the top ten auto lenders use the solution. Financial institutions now use Informed 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 or follow Informed on LinkedIn.
View original content:https://www.prnewswire.com/news-releases/tom-oscherwitz-joins-informediq-as-vp-of-legal-and-regulatory-advisor-301767554.html
SOURCE InformedIQ
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