Ivaylo Lenkov Joins Knowledgeable.IQ as Vice President of Engineering | Information

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Reporting to Justin Wickett, CEO, Mr. Lenkov can be accountable for constructing and delivery Knowledgeable.IQ’s next-gen AI options for FinTechs and Monetary Establishments.

SAN FRANCISCO, March 25, 2022 /PRNewswire-PRWeb/ — Knowledgeable.IQ, a expertise firm utilized by monetary establishments to immediately and precisely confirm mortgage origination knowledge and paperwork, introduced the addition of veteran Engineer, Ivaylo Lenkov. Mr. Lenkov was most not too long ago Vice President of Engineering at CDK World and joins as Knowledgeable.IQ’s VP of Engineering, reporting to CEO Justin Wickett. Knowledgeable.IQ has develop into the quickest rising provider of automation software program to the auto finance trade and now counts nearly all of the nation’s prime auto lenders as prospects.

Ivaylo Lenkov is a expertise pioneer, serial entrepreneur, and engineering chief with 20+ years of expertise in SaaS, Cloud Computing, Safety, and Cell. Most not too long ago, was VP Engineering at CDK World the place he ran the engineering for Fortellis, an API administration platform centered on the automotive trade that democratizes the entry to connected-car knowledge, service data, appointment scheduling and vendor’s stock for all main automotive manufacturers. Earlier than that he led the engineering group at AnchorFree – a client privateness/safety startup which flagship app HotSpot Protect was put in on over 650M units and ranked #1 within the Utility class of Apple App Retailer.

“Lenkov joins Knowledgeable.IQ at a time of exponential development,” stated Justin Wickett, CEO of Knowledgeable.IQ. “As a world-class engineer with deep team-building and scaling expertise, Lenkov understands regularly exceed the expectations of monetary establishments and car sellers whereas constructing API-driven microservices. His expertise fundraising from prime enterprise capitalists and delivery software-as-a-service merchandise utilized by hundreds of thousands of individuals makes him an amazing asset to me and the senior management at Knowledgeable.IQ.”

Knowledgeable.IQ processes 125,000 mortgage functions each month and works with firms together with Ally Monetary and Westlake Monetary in addition to massive nationwide retailers and dealership teams. Extra not too long ago, Knowledgeable.IQ has added unsecured private lenders, scholar mortgage suppliers and mortgage lenders to its roster of consumers. The answer has traditionally been utilized by lenders who want to make quicker, extra correct selections and develop originations quantity with out including important headcount.

“After engaged on a knowledge administration platform for linked automobiles, I used to be drawn to Knowledgeable.IQ by their wonderful product: An AI-driven answer to assist reduce the quantity of effort and time it takes for a automotive purchaser to safe a mortgage. I’ve spent quite a lot of time constructing applied sciences to tug the automotive trade into the longer term, and Knowledgeable.IQ is reworking the best way auto finance does enterprise,” stated Mr. Lenkov.

Knowledgeable.IQ’s expertise goes past picture recognition and affirmation of knowledge throughout the doc. The software program can examine purchaser knowledge towards a database of 35 million data, which permits Knowledgeable.IQ to verify many datapoints. A few of this knowledge can embrace evaluating paystubs towards a database of fraudulent templates, checking that the client’s revenue is similar to others of their occupation and geography in addition to decoding 401K withholdings or earned extra time, that are indications that the borrower can be a accountable lender. All of this evaluation and extra is completed in a matter of seconds. Along with offering real-time straight by way of processing capabilities, Knowledgeable.IQ permits lenders to adjust to regulatory necessities and be audit-ready, since all mortgage processing is completed in a exact and uniform means by way of the AI software program.

About Knowledgeable.IQ:

San Francisco-based Knowledgeable.IQ makes use of machine studying and AI applied sciences to immediately confirm revenue, belongings, residence, insurance coverage and different client knowledge factors, enabling real-time and extra dependable credit score selections that higher adjust to Truthful Lending legal guidelines. Knowledgeable.IQ’s machine studying fashions are educated to course of lots of of several types of paperwork and consumer-permissioned knowledge sources, automating stipulation clearance for lenders. In 2020, Knowledgeable.IQ processed near 1,000,000 client credit score functions for a number of main US lenders, automating over $91 billion in mortgage originations thus far. Knowledgeable.IQ’s AI automates verifications with 99% accuracy in seconds with no humans-in-the-loop. Initially centered on auto lending, the place 5 of the highest ten auto lenders use Knowledgeable.IQ, monetary establishments now use Knowledgeable.IQ’s expertise to assist provide mortgages, bank cards, and automatic checking account openings to their prospects. Knowledgeable.IQ was based in 2016 and raised $20 million within the spring of 2021 from notable buyers together with Nyca Companions and US Enterprise Companions, amongst others.

Media Contact

Duncan King, Knowledgeable.IQ, 1 9175707616, duncan@duncankingcommunications.com

 

SOURCE Knowledgeable.IQ





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