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AI-Powered Loan Broker Platform

Client is a financial services provider specializing in connecting borrowers with lenders for small and medium-sized businesses. They faced significant inefficiencies in processing loan requests, as much of their time was spent on phone calls and emails with borrowers to understand their requirements and manually match them with lenders.

Business Challenge

The loan brokering process was time-consuming and resource-intensive. Loan officers needed to gather borrower information manually, fill out forms, and match borrowers with suitable lenders, which led to:

  • High operational costs.

  • Delayed loan processing times.

  • A suboptimal customer experience.

The client needed a scalable solution to automate data collection, streamline lender matching, and improve borrower interactions without sacrificing the quality of service.


Solution

Invatechs addressed these challenges by designing and implementing a custom AI-powered loan brokering platform consisting of two main components:

  1. Client Portal:

    • Self-Service Data Entry: Borrowers can input their loan details, such as loan type, property type, location, loan amount, and term, through an intuitive web-based portal.

    • Document Uploads: Borrowers can easily upload necessary documents directly through the portal, eliminating back-and-forth communication.

    • Real-Time Feedback: Borrowers receive instant feedback on their submissions, ensuring they complete the process accurately.

  2. AI Chatbot:

    • Guided Conversations: The chatbot interacts with borrowers, asking relevant questions to collect loan requirements dynamically.

    • Lender Matching: Using the borrower’s inputs, the AI scans the lender database to find the top five tailored loan options, presenting details like APR range, loan amount, and terms.

    • Simplified Decision-Making: Borrowers can compare loan options directly in the portal, improving decision-making efficiency.

  3. Backend Management:

    • Centralized Dashboard: Admins can monitor borrower submissions, review AI-generated lender matches, and oversee loan progress.

    • Automated Summaries: Summaries of borrower data and lender options are automatically generated and shared with relevant stakeholders.

Technologies & tools

Development Process

  1. Discovery & Planning:Invatechs collaborated closely with the Client to identify pain points and design the platform’s architecture.

  2. Agile Development:The project followed an agile methodology with the following phases:

    • Sprint 1: Client portal and user registration.

    • Sprint 2: AI chatbot integration and lender database setup.

    • Sprint 3: Backend management and dashboard creation.

  3. Testing & Refinement:Conducted extensive testing to ensure the system handled borrower inputs, lender matching, and data security seamlessly.

  4. Deployment:The platform was deployed on AWS with Docker containerization, ensuring high availability and ease of maintenance.

Team

Project duration

Results

The AI-powered platform transformed the Client’s loan brokering process, delivering:

  • Increased Efficiency: Reduced manual intervention by over 70%, saving time and resources.

  • Improved Borrower Experience: Enabled borrowers to complete loan requests in minutes with tailored loan options.

  • Enhanced Scalability: The AWS-based infrastructure can support growing user demand.

  • Cost Savings: Operational costs decreased significantly by automating borrower interactions and lender matching.

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