Agile Solutions

Agile Banking

Don’t be left behind 
Tech-savvy business owners expect financial institutions to provide a fast, streamlined, and interactive loan process. They cannot wait weeks to hear if their loan will be underwritten and approved. Banks must digitally transform their technology platform, transform manual processes and provide a more efficient lending experience. Those who don’t, will be left behind.

McKinsey predicts that if financial institutions do not move quickly to engage with small businesses digitally, they risk losing as much as 60% of their overall profits to alternative originators over the next decade. Don’t let that be you.

The time is now
Financial institutions are still the first place small businesses turn when the need a loan. In fact, according to a Federal Reserve report, 95% of small businesses have applied for a loan at a traditional bank compared to only 24% of small business applying for credit through an alternative, online lender.

However, times are changing and there’s a shortfall in small business lending that alternative lenders are more than happy to fill. Online lender Kabbage is originating more than $5 million in small business loans every day, according to McKinsey. That number is expected to continue to grow.

Audit First

AI Foundry's Audit First module enables the small business loan officer to mitigate the difficult application process by enabling the applicant to understand what documents are needed upfront and time it takes for a loan decision. There is no more guessing and the process moves along smoother.

Third-Party Integrations

Eliminate a last mile technology gap with our LOS First for third-party integration. Our seamless integration with your existing lending platform provides a complete end-to-end solution. Individual business rules are processed against loan documents and data is automatically extracted and synced.

Additional Features

AI Foundry's Agile Banking standard features streamline the loan process with customizable dashboards and reports with actionable insights on individual loan processors, the loans themselves, workflows and notes for collaboration.

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Banks that are ready to adopt technology can win

Small business owners are changing the way they interact with traditional banks in every way and appreciate the use of technology to help them be more in control of their businesses and overall decision making.

The time is now to let AI Foundry help banks transform into everyone’s first choice in small business lending.

"...lenders can now leverage the incredible value of artificial intelligence (AI) and machine learning risk models to ...make sound lending decisions." 

FORBES, USING DATA TO SUPERCHARGE SMALL-BUSINESS LENDING DECISIONS, FEBRUARY 2018

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AI Foundry creates a positive digital experience for banks and their small business customers. Our powerful Agile Banking Solution, utilizing the latest AI and machine learning technology, delivers superior results by: 

  • Providing a more technologically sophisticated user experience which customers demand today
  • Keeping clients engaged in the process; enabling them to submit additional or missing documents
  • Giving customers visibility into the status of applications and improving communications

    The bank benefits include: 

    • Reducing manual review of documents such as income statements, tax returns, W2 and/or 1099 forms, inventory statements, equipment rentals and more
    • Reducing the amount of human involvement required for manual, paper-based processes
    • Providing powerful dashboards and analytics of key metrics
    • Saving time and resources by extracting the data from the documents and automatically populating bank systems. No more “stare and compare”
    • Improved margins and reduced overhead costs
    • Improving data accuracy, saving time and money while reducing compliance risks and loan buybacks

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      “Millennials have grown up with technology. Their experiences lead them not only to have higher expectations for user experience and sophisticated digital tools but also to expect instant gratification; thus, they have little tolerance for the manual, paper-based processes that remain at many banks.”

      CHRISTINE BARRY, RESEARCH DIRECTOR, AITE GROUP

      Learn how AI Foundry can help you transform your banking business.