How AI Can Work for You

Nov 21, 2024

Abi Khanna | Head of Data Science at LendWell

Chat GPT

How LendWell is Making AI Accessible to Everyone

Technology should feel natural, intuitive, and effortless when designed and deployed correctly. Artificial Intelligence (AI) is a powerful tool that can unlock tremendous value, but too often it’s perceived as complex or intimidating. We believe everyone should experience the benefits of AI —not just tech enthusiasts. Our goal is to make AI that feels intuitive and fits seamlessly into your existing workflow.

AI that Drives Real Results

What does this mean for you? AI can transform the way you work, helping you deliver excellent client service, reduce manual workloads, and grow your business without the traditional limitations of scaling. Imagine being able to handle more clients and applications without hiring additional staff or spending extra time on administrative tasks. Our AI systems automate repetitive processes like document review, compliance checks, and underwriting analysis, allowing you to focus on what really matters: growing your business and serving your clients.

LendWell AI can instantly review mortgage applications, flag missing or outdated documents, and even detect patterns in financial data that might otherwise go unnoticed. The result? Fewer errors, faster approvals, and more satisfied clients. By automating time-consuming tasks, you’ll be able to spend less time on paperwork and more time building relationships with your clients.

AI That Works with Your Existing Processes

You don’t need to be a data scientist or have a deep understanding of technology to benefit from AI. LendWell integrates seamlessly into your existing workflows, enhancing your day-to-day operations without adding complexity. Whether it’s flagging inconsistencies in income deposits or ensuring all necessary documentation is in place, LendWell’s AI helps you make quicker, better-informed decisions.

We know that implementing new technology can feel daunting, but we’ve designed our AI from the ground up to be intuitive and straightforward. There’s no steep learning curve, no need to change your existing processes. It’s there to make your work easier, not harder.

Addressing Common Concerns: Privacy, Jobs, and Integration

We understand that you might have concerns about how AI affects data privacy, your role, and your business. Data security and privacy is our primary concern at LendWell. Our systems are built to comply with the latest industry security standards, ensuring that all sensitive information is protected at every step. You can trust that our AI technology operates with the utmost care, safeguarding both your business and your clients' personal data.

While AI is excellent at automating routine tasks and flagging potential risks, human expertise remains critical in the lending process. From an underwriter’s perspective, human intervention becomes essential when AI encounters credit-related anomalies or complex situations that require deeper contextual understanding, judgment, and nuance. While AI can quickly identify discrepancies or unusual patterns in credit behaviour, certain scenarios, such as inconsistent income streams from freelance work or unique financial obligations, still require human judgment.

In these cases, an underwriter’s experience is invaluable in assessing risks that go beyond what algorithms can interpret. For instance, if a credit applicant has a non-traditional financial history, a human underwriter can better understand these nuances, ask the right questions, and make informed decisions.

AI acts as an assistant, handling the bulk of routine evaluations and freeing up time for underwriters to focus on more complex cases. This collaboration between AI and human expertise ensures the lending process is both efficient and empathetic, balancing technology with the insight and care that only humans can provide.

Making Your Work Easier with Instant, Accurate Feedback

In business, time and efficiency are two of the most valuable assets we have. The quicker we can handle something and the fewer times we have to revisit it, the better off we are. LendWell uses AI to streamline one of the most time-consuming parts of the lending process—document submission and review. The goal here isn’t to complicate your life with trendy technology; it’s to make things simpler and faster for both you and your clients.

Here’s how it works: when a client submits their documentation, LendWell’s Intelligence immediately checks for errors or missing information. It doesn’t take a day, or even an hour—it happens in real time. The idea is simple: the best time to fix a problem is when it’s first spotted, not later when everyone’s attention has moved on to something else. By catching mistakes—like a missing bank account or outdated statement—right at the point of submission, you and your client can correct matters while they’re still focused on the task at hand.

This saves you time, effort, and endless headaches. Think about it. No more back-and-forth emails days later, trying to track down missing details. Your client knows right away what needs fixing, and they can address it immediately. That’s important because we know that people are more likely to take action when something’s fresh in their minds. If you let too much time go by, it becomes a lot harder to get things sorted out.

For example, say a borrower submits their financial records but leaves out a secondary account. Instead of needing to go back to them days later, our AI flags it right then and there. They fix it, you move forward, and the process keeps humming along. It’s a win-win—less wasted time for you, and a smoother experience for your clients.

At the end of the day, the goal isn’t just to work faster, but to work smarter and more efficiently. By getting things done right the first time, you save time, reduce errors, and keep your clients happy. That’s the kind of efficiency that pays dividends, both in your day-to-day work and in the relationships you build with your clients.

A Future Where AI is for Everyone

Our vision is simple: AI should be an invisible force that empowers you to excel, without you ever needing to think about it. Whether you’re a small business owner, financial advisor, or underwriter, LendWell’s AI is built to help you achieve more with less effort. It quietly optimises your workflow, doing the work you would rather delegate, and making your clients happier.

LendWell exists to create a future where AI becomes an integral part of your success, seamlessly integrated into your daily operations. Always there when you need it, always driving meaningful results in the background—transforming not just how you work, but what you’re able to accomplish.

PRODUCTS

Lead Generation

Mortgage Applications

Reporting

Artficial Intelligence

Workflows

Piqo Limited trading as LendWell. Registered no. 743459. All rights reserved.