Nivo launches AI assistant for lending

Nivo has introduced 'Lender Collect,' an AI assistant designed to automate the heavy lifting of the consumer lending process. For retailers and operators, this tool signals a shift toward much faster financing approvals. Instead of manual back-and-forth emails, the AI handles the entire lifecycle of a loan application. It gathers evidence from customers, prepares files for underwriters, and manages post-decision conditions automatically. This technology is particularly useful if your business relies on high-ticket sales that require complex documentation. The AI acts as a 24/7 coordinator, ensuring that applications don't stall because of missing paperwork or slow communication between brokers and lenders. By reducing the administrative burden, lenders can process more applications in less time. For your business, this means a smoother checkout experience for your customers and a higher likelihood of closing sales that might otherwise fall through due to long financing delays. As these AI tools become standard, the 'waiting period' for customer credit decisions will continue to shrink, making financing a more seamless part of the retail journey.

Source: Finextra — Lending

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