Loan trading – The future’s not bright it’s dark pools………
October 4, 2023

What we are building with AI

Migrating onto new operating systems used to be super expensive & take a very long time. Not anymore.

Onboarding new operating systems has been an nightmare historically. It is so daunting a prospect that sometimes new product adoption is defeated by the sheer scale of the problem. One European bank we spoke to last year said the process of switching to a new loan agency system took them 4 years and cost over €6m in consultancy fees.

New technology is now allowing us to very quickly fix that problem. Large language models are now so powerful that you can now get the best loan management technology money can buy into your hands in days rather than months.

Ai is helping to deliver a 97% reduction in onboarding time

We recently priced up an onboarding package for client. This involved moving over 2,000 loans from their existing database into our system. This would normally take a group of 5 people working 5 days a week almost 6 months and cost almost $400,000. Our new onboarding feature is going to bring down the time to new product adoption by 97%.

Once fully onboarded new technology can have a deal into the loan system with all dependent workflows populated in a matter of minutes. The only thing (rightly) slowing this process down is the need for 4 eyes reconciliation checks.

Unrivalled procesing power

Using our new natural language processing tool to process 500 page leverage finance agreements we can have this work done, including verification in 2 weeks. We have used a massive data set of loans (1000’s) and borrowers to train a model to accurately identify very bespoke legalese conditions that would take a human hour per clause. Once fed into our loan agency system the automated workflows then remove the hours of repetitive tasks we now as an industry rinse and repeat!

Taking the Robot out of the Human

AI is here, its changing the game and most importantly its allowing us to deliver better standards of service to our clients by Taking the Robot out of the Human.