Consumer Portfolio Services on Monday announced the successful integration of Informed.IQ’s Dealer Verify tool into its origination process.

The subprime auto finance company said this advanced solution driven by artificial intelligence can enhance the dealer experience by automatically verifying stipulations, improving capture rates and reducing contracts in transit.

CPS said it has consistently focused on leveraging technology to enhance its operations across the subprime auto financing cycle.

For years, CPS said it has utilized AI and machine learning to streamline its underwriting processes, improve risk management, and optimize dealer performance. The company’s proprietary AI-driven models have enabled the approval of higher-quality contracts, resulting in better credit performance, enhanced collections and stronger portfolio growth.

With the integration of Dealer Verify, CPS is further expanding its use of AI to improve dealer efficiency.

By automating the collection and real-time verification of key consumer stipulations — such as proof of income, bank account statements and other necessary documents — Dealer Verify can enable CPS dealers to process applications more quickly and accurately, reducing delays, minimizing fraud risk and enhancing customer satisfaction.

Dealer Verify processes various document types and data sources, automating calculations, identifying omissions, and flagging potential fraud to ensure accurate decisions in real time.

When dealers submit documents through CPS’s secure Dealer Verify portal, they receive immediate feedback, eliminating concerns about non-conforming stipulations or image quality issues.

CPS pointed out this process allows any issues to be resolved quickly, ensuring all documents are verified quickly and ready before customers leave the dealership.

“By leveraging Dealer Verify, CPS dealers are now equipped with the tools to handle loan originations more efficiently,” Consumer Portfolio Services COO Mike Lavin said. “This technology allows us to provide a streamlined, frictionless experience to our dealers, ensuring deals are processed faster, with fewer errors, and with significantly less risk of contracts-in-transit.”

Looking ahead, CPS said it is continuing to expand its operations and invest in growth.

With a growing network of more than 12,000 approved dealerships across 47 states, CPS is scaling its team to support increasing demand, aiming to add more sales representatives by the end of the year.

This expansion ensures CPS can continue to provide efficient, affordable financing options to more consumers while strengthening relationships with dealers nationwide.

Teri Robinson, executive vice president of sales and originations of CPS, added, “By leveraging AI, we have cut days in house from over three to under two. We have increased our same day funding percentage by 100% and second-day funding percentage by 50%.

“We can ensure that every loan is processed with maximum accuracy, giving our dealers confidence in their decisions and allowing us to continue delivering competitive-rate loans to all market segments,” Robinson went on to say.