Tom Oscherwitz joins Informed.IQ as VP of Legal and Regulatory Advisor

by James · March 14, 2023

SAN FRANCISCO, March 14, 2023 /PRNewswire/ — Informed.IQ, a fintech developer of AI-based software that instantly and accurately verifies origination of loans and documents for financial institutions, announced the addition of Tom Oscherwitz as its Vice President of Legal Affairs.

Tom has more than 20 years’ experience from financial services, both as a regulator and as a legal manager. An employee of the Consumer Financial Protection Bureau (CFPB), Tom spent nearly a decade building the CFPB, and was responsible for launching the AI Policy and consumer reporting oversight 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 number of senior roles, including Vice President of Government Affairs, Chief Privacy Officer and Head of Compliance. Previously, he served as an adviser to a senator Dianne Feinstein (D-Cal.) who represents her on the Senate Judiciary Subcommittee on Terrorism, Technology and Homeland Security.

“I’ve spent my career at the intersection of consumer protection, big data analytics and financial services. I’m excited 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 provider of verification software to the auto finance industry, and counts the majority of the nation’s top auto lenders as customers. Informed’s AI and modeling perform complex calculations, ensure accuracy, identify omissions, reduce bias and combat 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 provisions, credit provisions and more; enables reliable credit decisions in real time without bias. Informed’s ML models are trained to process hundreds of document types and consumer-approved data sources, automating determination approval for lenders. By 2022, Informed processed over 4 million consumer credit applications for major US lenders, automating over 110 billion dollars in loan assignments to date. By 2023, the company expects to see 40% of US auto loans.

Informed automates verifications in seconds without people-in-the-loop. Initially, the company focused on car loans, where seven of the top ten car 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 20 million dollars in 2021 from notable investors including Nyca Partners and US Venture Partners. To learn more, visit informediq.com or follow Informed on LinkedIn.