Fern Software, an international SaaS FinTech solutions provider with a global presence in 40+ countries, has announced the launch of Quantum AI, a Loan Decision Engine powered by Salesforce Einstein Artificial Learning technologies that can rapidly and accurately determine loan decisions for any financial institution.
Quantum AI utilises the financial institutions customer loan portfolio book and supporting financial services inputs from Open Banking & Credit Referencing Agencies (CRAs) to determine loan decisions efficiently and effectively.
Quantum AI executes multiple decision flows to identify trends and patterns based on historical data and loan parameters such as loan amount, loan type, the financial institutions’ “risk appetite” to accurately generate loan predictions within seconds after a loan application is submitted with a 92.7% prediction accuracy rate.
With Quantum AI, financial institutions can greatly improve their operational efficiency by utilising Process Builder to automate their Loan Decision workflow. Once Quantum AI has generated the ultimate loan decision, it can inform and solicit a response from the applicant of the decision and send an email with supporting credit agreement and schedule for electronic sign offs if the applicant wishes to proceed.
Quantum AI offers financial institutions unlimited flexibility as it is a Core Agnostic service designed to work with any third-party core system based on access to the loan portfolio data and can be easily integrated with any third-party solutions on Salesforce AppExchange or via API.
The adoption of a flexible and scalable platform and a decoupled technology architecture could result in raising loan volumes by 100%, while reducing operational costs by 80%.
It is time to start your transition into an Artificial Intelligence powered, 100% digital lending platform.
Learn more about how Quantum AI can help your financial institution streamline your loan workflow and improve operational efficiency here.