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UMB Financial Corporation Becomes First Bank to Deploy Intain’s Verification Agent

UMB Financial Corporation Becomes First Bank to Deploy Intain's Verification Agent; Activates Key Module of Administration Service for Structured Finance
Intain Augments Admin Service with Verification Agent, Employing Artificial Intelligence for Large-Volume Automated Loan Processing to Substantially Reduce Potential Errors

Intain Inc., a leading blockchain-enabled structured finance platform for issuers and investors to connect in an efficient, secure and trusted way, announced the availability of a verification agent module for its Intain Admin platform for integrated and seamless administration of structured finance. The addition of a verification agent provides an automated function for large-volume review and processing of loans and other assets by artificial intelligence (AI), substantially reducing errors, lowering costs and speeding up processing times of complex structured finance administration, which has traditionally been facilitated by manual processing.

UMB Financial Corporation is the first customer to activate Intain’s verification agent module, enabling substantially more efficient comparison and validation of loan attributes and certificate generation. Intain’s verification agent provides accuracy and efficiency through an automated, AI-driven and seamless end-to-end platform. This enables financial institutions to more skillfully service transactions in the structured finance market. The software can increase institutions’ potential to become the preferred resource for warehousing verified loan pools as collateral agent and gain additional business as Trustee should these loans be pooled into a securitization.

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“Intain is helping financial institutions discover the benefits of blockchain, not because it sounds sexy but because our blockchain and automated AI services help companies become more efficient, more accurate and more trusting of their processes, enabling them to grow and increase business engagement and their ability to help more customers,” said Siddhartha, Founder and CEO of Intain. “Blockchain in financial services has reached an inflection point where traditional financial institutions not only see the technology’s benefits but also are investigating and beginning to consider its adoption. We’ve maintained our conservative and pioneering approach, well within financial regulations, and are perfectly positioned to perform as the de facto administrative platform and trust layer for structured finance. We’re not interested in being disruptive; we are simply dependable and results-driven.”

Intain believes that with greater efficiency and transparency, the private structured credit market will become a more attractive proposition for a higher caliber of investor, as better price discovery will manifest a minimum viable deal size of $10$20 million ahead of the public asset-backed securities market. This ability to securitize at smaller increments and cycle capital at a faster pace is one of the key advantages of running verification and administration of loans through blockchain.

UMB serves as corporate trustee for asset-backed securities across nearly all asset classes. Thanks to rapid growth in the past two years, UMB has climbed to seventh on the most recent league table compiled by industry publication Asset-Backed Alert.

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“UMB’s clients run the gamut, so we service transactions across multiple asset classes. Intain’s Admin platform for structured finance makes our processes smarter and more efficient while maintaining transparency,” said Kristin Moore, senior vice president, ABS team lead at UMB. “Every financial institution I’ve ever engaged with has wanted to move faster while maintaining and even improving accuracy. As a trustee for asset-backed securities, the hurdle has always been manual verification of loan data, which can lead to human error. Intain Admin will help us overcome that hurdle and continue building and maintaining trust with our clients.”

Intain connects lenders with investors in the decentralized finance space, where lending institutions can raise capital by tokenizing their loan pools. For investors, this creates a primary market for the risk-priced structured credit instruments that are issued on the blockchain, with a secondary market providing liquidity because these instruments can be traded in small fractions and settle in real-time on blockchain itself. For lending institutions, it provides access to a continuous flow of low-cost capital with reward for transparency.

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