Customer experience is everything. Get it right for your lending process using AI

One thing every industry will agree on today is – customer experience is everything. With companies like Netflix and Amazon driving customer expectations higher using Artificial intelligence (AI) and machine learning, it is time for the credit and banking industry to integrate AI into their processes for a smarter and seamless lending experience.

Wesley Hawk, VP Finance & Credit Operations, The Fundworks LLC, believes that gone are the days of banking employees working from 10 to 4 with the three-martini lunches in between. Instead, today, customers expect to get their fund requests approved in just a click, and that too on the same day – all this while they are enjoying a quiet dinner with their families at home, outside business hours.

This transition in expectations has been shaped by their everyday experience of brands and companies anticipating their needs and wants at the drop of a hat. You’ve logged on to Amazon and are looking for products to help spruce up your garden. Along with the lawnmower you searched for, recommendations also pop up for other garden tools you may need. You add a couple of them to your cart along with the lawnmower and pay for the purchase; You are now equipped to tend to your garden when the only contribution from your end has been typing in the two words – “lawnmower.”

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