Boston, August 13, 2019 –As financial institutions worldwide have shifted their business models toward a digital-first approach, one lagging adopter has been business lending. With extended underwriting, large risks, and bulky due diligence processes, business lenders face greater challenges than other lines of business in a transition to a digitized customer experience. But can AI help them reinvent how they interact with customers at multiple points across the loan life cycle?
This report examines the current state of AI in business lending, including its definition, challenges, generally available applications, and in-the-labs use cases. It contains analysis from 20 in-depth Aite Group interviews with senior executives at banks and vendors from various parts of the world that are building, deploying, and using AI solutions to support business lending.
This 36-page Impact Note contains three figures and three tables. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Banksight, Finastra, Genpact, Hubtran, Jack Henry, Judo Bank, Linedata, nCino, Numerated, Ocrolus, and Oracle.