Lending | Dec 6, 2023
FundMore collaborates with Senso AI to launch an AI-driven underwriting assistant, transforming the lending industry.
FundMore, a leading mortgage underwriting software company, has recently announced its partnership with Senso AI, marking a significant step in the integration of Generative AI within its Loan Origination System (LOS). This collaboration introduces an advanced tool designed to automate and enhance data collation, creating Deal Summary Notes, and optimizing enterprise lending processes. The integration of Senso AI’s Agent Fetch and Agent Echo products into FundMore’s LOS promises to streamline decision-making and improve the quality of lending services.
Podcast: Taking the Mortgage Process From 40 Days to Minutes with Chris Grimes
Highlights:
- FundMore’s LOS now features Generative AI capabilities, a first in a series of planned AI tools, aimed at automating lending processes and reducing human error and fraud risks.
- The collaboration with Senso AI focuses on leveraging AI to ingest and aggregate institutional knowledge, enhancing customer intelligence and opening new revenue opportunities.
- Senso AI’s products, Agent Fetch and Agent Echo, will be integrated into FundMore’s system, aggregating key documents and converting conversational data into actionable insights for an enhanced lending workflow.
- This AI-driven approach addresses current challenges in the lending industry, including risk, compliance, and data privacy, offering lenders a competitive advantage in a rapidly evolving market. The rise of AI in lending brings increased regulatory scrutiny. FundMore’s solution helps lenders navigate these complexities, ensuring compliance, and data protection.
Chris Grimes, CEO of FundMore:
“AI is more than just a technological advancement; it’s a transformative tool for lenders to expedite lending, enhance customer interactions, and bolster compliance while supporting underwriters to reduce human error and fraud risk. Our commitment to leading the AI revolution in lending is in our name, this is just the first of a series of generative AI tools we plan to integrate into our LOS.”
Podcast: The Convergence of Data Intelligence and Money Algorithms with Saroop Bharwani, Founder and CEO Senso.ai
Saroop Bharwani, CEO Senso AI:
“Our partnership with FundMore integrates Senso’s generative AI capabilities within the LOS, delivering unparalleled value to the Canadian lending market through advanced automation and intelligent data aggregation.”
Why It’s Important
By harnessing the power of AI, the partnership between FundMore and Senso AI enhances operational efficiency, accuracy, and also prepares lenders for future industry shifts. It’s a forward-thinking move that positions FundMore at the forefront of technological innovation, offering a glimpse into the future of automated, intelligent lending solutions.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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- Source: https://ncfacanada.org/fundmore-x-senso-ai-launch-solution-to-transform-lending/
