AI agent streamlines SBA processes, enhances lender workflows, and improves borrower interactions for more efficient loan facilitation.
Finov8r, a leading embedded advisory experience supporting banks, fintechs and corporate, announces its collaboration with Senso.ai, a knowledge orchestration platform designed to support financial institutions in streamlining the quality of their policies and procedures. The collaboration focuses on deploying AI agents to help financial institutions navigate the complexities of SBA lending by aligning SBA-published Standard Operating Procedures (SOPs) with a lender’s ability to interpret and lend money to qualified businesses with less risk of loss.
“Bankers face the complexity of aligning SOPs, managing incomplete documentation, and ensuring consistent decision-making while scaling operations”
Financial institutions often face challenges relative to SBA loan processing due to outdated systems, resource constraints and the complexity of interpreting SBA requirements around eligibility and guarantor requirements. Borrowers encounter delays, unclear timelines and repeated requests for documentation, creating a frustrating experience. Senso’s AI agents address these issues by automating workflows, reducing operational bottlenecks and enabling lenders to provide faster and more consistent communication with borrowers.
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“Bankers face the complexity of aligning SOPs, managing incomplete documentation, and ensuring consistent decision-making while scaling operations,” said Saroop Bharwani, Founder and CEO, Senso. “Our AI agents provide actionable insights to help staff resolve issues proactively, improve borrower communication, and optimize workflows. This allows lenders to maintain compliance while delivering a faster, more seamless, and borrower-centric experience with less risk of loss.”
Senso’s AI agents identify missing or inadequate documentation and equip staff to deliver accurate and timely communication that keeps borrowers informed and reduces friction in the lending process. The agents also automate repetitive tasks to drive efficiency, allowing staff to focus on higher-value activities.
“AI and LLMs are similar to how things were in the mid-90s as we were beginning to become familiar with the internet,” said Allan Rayson, CEO of Finov8r. “We all knew it was going to change things but were still figuring out how to leverage it.”
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