Nivo launches site to let lenders try its AI assistnat

Financial technology firm Nivo has launched a trial portal for its AI Assistant, specifically designed to help lenders automate the early stages of the loan application process. For retailers and operators, this signals a shift toward faster, more automated customer approvals. The tool focuses on handling routine tasks like answering applicant questions, gathering identity documents, and screening evidence before a human underwriter ever sees the file. If your financing partners adopt these types of AI tools, your business will likely see a reduction in 'application drop-off.' The technology aims to keep customers engaged in the mobile experience by providing instant answers rather than making them wait for a callback. The trial allows lenders to test how these bots handle complex queries without a long-term contract. For the merchant, this means the distance between a customer showing interest and receiving a firm 'yes' on a credit application is shrinking. Keeping an eye on which lenders use these automated assistants can help you choose partners that offer the smoothest checkout experience for your shoppers.

Source: Finextra — Lending

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