Artificial Intelligence Fintech News

ai1 Technologies announces the first AI – based chatbot for loan-origination to revolutionize the lending industry

ai1 Technologies announces the first AI - based chatbot for loan-origination to revolutionize the lending industry

ai1 Technologies is proud to announce the Beta release of its groundbreaking AI/ML-based Fintech application suite for the lending industry.

ai1 Technologies is proud to announce the Beta release of its groundbreaking AI/ML-based Fintech application suite for the lending industry. This innovative solution combines a first AI-powered Chatbot Point of Sale (POS) data collection, a module for seamless data export to Loan Origination Systems (LOS) using the industry-standard MISMO 3.4 format, and cutting-edge Machine-Learning (ML) algorithms for automated predictive analysis and loan scoring.

The ai1 solution addresses several key challenges faced by lenders, offering the potential for improved efficiency, enhanced accuracy, and cost reduction. By automating data collection and export processes, the AI-powered Chatbot and seamless LOS integration can reduce manual effort and minimize errors. The Machine Learning algorithm provides more accurate predictive analysis and loan scoring, enabling lenders to make better-informed decisions. These features, combined with the potential for reduced per-loan costs and minimized compliance-related fines, make the ai1 solution a compelling value proposition for the lending industry.

“Our goal is to revolutionize the lending industry by leveraging the power of AI and ML to streamline processes, improve accuracy, and reduce costs. We invite lenders to join our Beta program and experience the benefits of our innovative solution firsthand.”

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Philip Wallace,

CEO of ai1 Technologies and Seaview Mortgage, Inc.

With over 239,300 loan officers and over 4,400 mortgage companies in the US (not including large banks), the lending industry faces significant challenges in maintaining profitability and compliance. According to the Mortgage Bankers Association, mortgage companies reported a net loss of over $2,800 per loan and total per-loan expenses of about $12,500 in the 4th quarter of 2022. Additionally, several companies incurred multi-million-dollar fines for not correctly collecting and storing compliance-related data. ai1 Technologies’ AI/ML-based lending application addresses these pain points head-on, offering a powerful tool for lenders to streamline their processes, improve accuracy, and reduce costs.

“Baseline ai1 Technologies’ lending models are created using common property price, income, assets, liabilities, credit score and other variables exported into an LOS in MISMO format. Baseline ML models clusters are then built on previously approved and declined lending applications data and applied to the new applications classification for the loan scoring/approval process.”

Dr. Konstantin Malkov,

CTO of ai1 Technologies

The ai1 application’s SaaS model and compatibility with various private, hybrid and public cloud platforms provide lenders with the flexibility to adopt and deploy the solution according to their specific needs and compliance requirements.

In line with the commitment to pioneering Lending AI technology solutions, ai1 Technologies is leading the way in use of Physical Neural Networks (PNNs), blending novel paradigms with traditional computational architectures. PNNs are a pioneering class of neural networks implemented directly within physical systems, addressing critical needs for scalability and efficiency in today’s demanding AI/ML– powered Fintech applications.

“ai1 Technologies has developed a novel AI/ML SaaS solution that collects mortgage data via an AI Chatbot and exports it into standard Loan Origination Systems. This automated lending application ranking solution should be considered by all lenders as it can run in public, private and hybrid cloud environments.”

Symon Perriman,

AI / ML Leader (Meta, ex-Google, ex-Microsoft)

Join our exclusive Beta program and be among the first to experience the power of ai1 Technologies’ groundbreaking AI/ML Lending Application. As a Beta customer, you’ll enjoy no-cost access, early adopter discounts, and the opportunity to influence the product roadmap.

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