Nivo Invites Asset Finance Funders to Watch AI Revolutionise Deal Proposal and Underwriting Processing

05 February 2024

New AI system enables funders to complete more business without increasing resource

Leading fintech innovator Nivo is inviting Asset Finance funders to a live, online demonstration of an Artificial Intelligence (AI) solution which will revolutionise the way Asset Finance funders process, underwrite, close and complete deals.

Generative Artificial Intelligence, which can generate text, images, charts and other data often in response to models and prompts, is transforming business at an incredible pace. Nivo has identified Asset Finance as an industry where funders can quickly and easily accelerate their processing from proposal and underwriting through to completion without increasing headcount. Furthermore, Nivo’s AI system does not impose a preferred proposal format or submission process on funders’ broker partners, most of whom will deal with many different funders operating in many different finance sectors.

During the webinar, on the 22nd February 2023, Damon Williams, Nivo Sales Director, will walk attendees through Nivo’s system which allows deals to be submitted in any format and instantly assessed for suitability.

Broker Deal Submission:

Nivo’s AI platform allows brokers to submit deals in any format, whether this be email or via the lender’s portal, which is then added to funders’ Nivo & CRM system. All deals are filtered and approved based on criteria set by the funder. The broker is automatically informed within minutes, taking the deal straight off the market faster than another funder could even look at the details. Therefore, eliminating any rekeying of information and freeing up admin staff to undertake other duties.

Underwriter Assistant:

The system empowers underwriters to do more and provide them with intelligent tools that will automatically assign an overall score based on the funders criteria and completion of applications, making them aware of which deals to prioritise. The platform will provide a list of required information based on the lending criteria - meaning underwriters can process higher volumes of submissions - whilst also generating a summary of the customer and highlighting any concerns of the application.

Funders can use Nivo to communicate with the broker and to chase and retrieve documents. As information and documentation is updated, AI will extract key information from the documents, without the need for underwriters to sift through documentation manually, plus it will update the score, so the team is always focused on the most important deals.

For more information about the webinar and to register to attend, please go to: https://go.nivohub.com/asset-finance-ai-webinar

Damon Williams, Sales Director of Nivo, said: “This AI led system transforms the way funders receive, process and underwrite new business and it could be up and running and integrated with funders’ existing systems within just a few weeks. During this webinar we will show how AI can read proposals in any format and transfer the relevant information into a format which can then be assessed and scored according to the funder’s own criteria, all in a matter of seconds. This system will give a competitive edge, increase efficiency, and enable funders to grow their businesses without increasing their headcount.”