Cobalt Intelligence API has been implemented by General Merchant Funding to automate the underwriting process, which has yielded significant benefits in terms of time savings and fraud detection. The automation includes Secretary of State Verification, Real-Time EIN Verification, and Judicial Records & Court Case Searches. These features have eliminated manual processes, saving 3-5 minutes per application. Additionally, the automation has enabled the identification of problematic applications early in the process. Craig emphasized the ease of integration and the reliability of data provided by Cobalt Intelligence. In today's competitive market, automation is crucial for alternative lenders, as highlighted by the industry's expansion and increased competition. Cobalt Intelligence APIs are presented as a solution for lenders to survive and thrive in this space by streamlining processes and managing risks effectively.