Nivo has been appointed as the National Association of Commercial Finance Brokers' (NACFB) new AI partner.
As part of the partnership, Nivo will provide a solution that tackles the administrative tasks of gathering, checking and sharing information required for a loan.
Nivo has helped over 100 lenders and one million customers streamline loan origination, and its new AI services have been built for specialist lending.
Its AI solution operates 24/7 over email with no need for new technology integration. It acts as a virtual assistant by guiding brokers through lender-specific workflows and producing fully packaged, compliant cases.
It takes on a range of admin tasks and automatically runs ID&V, AML, credit searches, document collection, open banking and e-signing technologies where required.
As part of the partnership with NACFB, Nivo has launched an exclusive pilot programme for association members. It offers early access to the tech and the opportunity to shape how AI redefines the broker-to-lender experience.
Chief executive officer at Nivo, Matthew Elliott, said: "We’ve always been focused on reducing admin effort through smart technology, and the latest AI developments take this to a whole new level.
"The response to our early adopter programme has been incredible. We were initially looking for five brands to work with and currently have over 100 sign-ups. This shows that many in the industry are aware of AI and are keen to better understand how it can help them. We’ve built something powerful, but the real test is how it performs in the wild. That’s why we’re inviting NACFB members to help shape the future of this tech, solve real problems, and push the boundaries of what AI can do for our industry."
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