UK-based fintech Nivo is extending an invitation to asset finance funders for a live, online demonstration of its artificial intelligence system. 

The AI solution, based on Generative Artificial Intelligence, is designed to change how funders process, underwrite, and complete deals in the asset finance industry.

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The webinar, scheduled for 22 February 2023, will be led by Damon Williams, Nivo’s Sales Director. 

According to a press release, the AI system aims to help funders handle increased business volumes without the need for additional staffing.

The statement said Nivo’s system stands out by allowing funders to process deals from proposal to completion without imposing a specific format on broker partners while acknowledging the diverse array of funders and finance sectors that brokers often navigate.

Broker deal submission

The company said that Nivo’s AI platform accommodates deal submissions in various formats, be it through email or the lender’s portal. Submitted deals are seamlessly integrated into funders’ Nivo & CRM system, where they undergo swift approval based on predefined criteria. 

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The automated process ensures brokers receive instant feedback, removing the deal from the market faster than traditional methods. This eliminates redundant data entry tasks, freeing up administrative staff for other responsibilities, Nivo said. 

Underwriter assistant

The press release said the AI system will provide underwriters with tools that assign an overall score based on predefined criteria and application completions. This automated scoring system aids underwriters in prioritising deals efficiently. Additionally, the platform generates a list of required information based on lending criteria, streamlining the submission review process. 

Also, under the system funders can utilise Nivo to communicate with brokers, chase and retrieve documents, and extract key information from updated documentation through AI, eliminating the need for manual document sifting.

Damon Williams

Damon Williams, Sales Director of Nivo, emphasised the transformative impact of this AI-led system, noting its ability to seamlessly integrate with existing systems within weeks.

He said: “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.”

For more details about the webinar and registration, visit: Nivo Asset Finance AI Webinar