Staying ahead in the lending landscape isn't just about using new technology. It is about finding the right solution that addresses the industry’s current challenges, a feat only few tools could achieve today. Prudent AI is one among them.
But why do industry leaders choose Prudent AI in a market filled with other “smart” AI tools? Ever thought about it? We did.
And we could think of not one, but five ways where Prudent AI is creating a positive impact on the productivity and efficiency of lending teams.
Rapid Onboarding Process
Unlike other software in the lending industry that requires months of training and implementation, Prudent AI can be implemented and become fully operational in less than a week. What makes it even more interesting is your team can achieve proficiency in just 30 minutes, a stark contrast to the lengthy learning curves often associated with similar products.
Unparalleled Processing Speed
The rapid analysis and processing of complex financial data is the foundation of every effective lending team. Prudent AI has broken the speed barrier with its lightning-fast processing time of 2 minutes and 17 seconds for a thorough examination of 24 months' worth of bank statements.
By drastically cutting down on processing time, your teams can focus on the decision-making process, which will increase the overall team productivity. AngelOak, for example, drastically reduced their processing time, leading to an impressive 4x increase in productivity, saving an astonishing 4 hours for every loan application.
More than a Smart Bank Statement Analyzer
Prudent AI goes beyond just bank statement analysis—it also acts as an intelligent income desk software. Its advanced features explore gives you a full picture of borrower income and cash flow insights.
This approach makes income verification easier for lending teams. Prudent AI efficiently analyzes various income sources, informs the loan officers if there are any missing details. This not only improves the accuracy of lending decisions but also makes the lending process smoother and more informed.
The adoption of Prudent AI by American Heritage Lending serves as a prime example of its expansive capabilities, leading to extraordinary and transformative outcomes. Underwriter productivity increased four times, cutting down operational costs notably, thereby increasing the overall productivity of their teams.
The biggest hurdle in today’s lending platforms is the lack of an intuitive user interface. The complex and outdated user experience has made users assume that lending products have to be complex, and it is on them to get familiar with the software. It adds to their frustration, and it slows them down. It doesn’t have to be that way.
At Prudent AI, one of our philosophies is to simplify the user experience and make it more intuitive for the user. The user experience of Prudent AI is designed with simple drag-and-drop actions, and smart filters that allows lending teams to quickly navigate through complex data, understand, and make informed decisions.
Alysse Prosnick, the Senior Vice President of Operations at AngelOak, strongly endorses this. She says,
Prudent AI is a game changer! I chose Prudent AI over other vendors due to its unique capability to tailor 'Income calculation' as per our guidelines.
The intuitive UI/UX design is another high point, letting our sales and underwriting teams access information in no time. Notably, Prudent AI has allowed us to make significant cost savings per loan by cutting down on man-hours, thereby streamlining our expenses.
Prudent AI's adaptability to varying loan volumes, accompanied by its cost-saving potential, has redefined the paradigm of scalability for lending teams. By significantly reducing operational expenses and optimizing resource allocation, Prudent AI has paved the way for lending institutions to expand their operations seamlessly without compromising on quality.
A pertinent example is the journey of LendSure Mortgage Corp, where the lending firm managed a phenomenal 450% rise in loan volumes, effectively demonstrating how Prudent AI facilitates scalable growth while maintaining operational efficiency.
Prudent AI isn't just a tool; it's your strategic advantage in the fast-paced lending market. See how our cutting-edge solution can transform your team's productivity and decision-making. Schedule your demo here