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St. Louis Loan Originator Bets On FinKube To Help Increase Home Finance Business

FinKube, a company that provides AI-powered Platform-as-a-Service solutions for a range of industries, announced that St. Louis-based LenderCity has successfully deployed ELSA, FinKube’s Electronic Loan Services Assistant. The mortgage industry’s first chatbot is already interacting with prospective borrowers on the LenderCity website.


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“Consumers want immediate answers to their home finance questions and ELSA is smart enough to provide the information they need and gather the information we need to prequalify the borrower,” said Gregg Harris, principal at LenderCity. “We know we need to respond very quickly to borrower requests for information, but we also want to capture as much information from them as we can, without taking up the loan officer’s time. FinKube’s ELSA is the answer.”


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ELSA is an intelligent assistant that uses AI and machine learning to enhance the origination process from origination to close. Her AI is powerful enough to gather borrower information, render decisions, automate time-consuming tasks and help lenders produce fully compliant mortgage loans in as few as 20 days, though she is well versed in any form of consumer lending.


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“American home buyers still want to visit with a live loan officer before signing on a new mortgage, but it’s not efficient to spend the loan officer’s time in conference with borrowers who do not qualify,” said Jorge Sauri, founder and CEO of FinKube. “At the same time, those borrowers who do qualify expect to have their questions answered immediately. They don’t want to wait for a call back. They want to feel like they are in control. Most chatbot technology cannot offer that, but ELSA does.”


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With ELSA, LenderCity is able to hyper personalize the home finance transaction at every stage. Studies have shown that this:

>>Reduces customer acquisition costs by 50-80%

>>Increases engagement and conversion by 500%

>>Reduces customer service costs by 50-80%

>>Increases loan retention by a factor of 6

As an A.I. powered virtual assistant, ELSA works 24/7/365 pre-qualifying leads, communicating with customers and synchronizing outreach across chat, text, voice, email, and mobile wallet. In addition, FinKube can deploy ELSA ten times faster than generic chatbots that can’t speak mortgage out of the box.

A Digital Education

As we all know, everyone is talking about the digital mortgage. FinKube, a company that provides AI-powered Platform-as-a-Service solutions for a range of industries, announced that the company will offer a free webinar featuring Plaid Inc. – a financial technology platform that powers modern, digital financial services.

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The free webinar on Thursday, October 18 at 2:00PM EST will provide tips and best practices to help loan originators adopt financial technology (fintech) at the point-of-sale to attract borrowers and offer fast pre-qualifications.

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“Speed is critically important to today’s borrowers, and lenders that respond quickly and then pre-qualify quickly will win more business,” said Jorge Sauri, founder and CEO of FinKube. “Our point-of-sale technology was designed to allow lenders to use the best tools available to win more business. Plaid is an excellent example of a company that is using fintech to speed up the loan process. In this webinar, we’ll find out how every lender, regardless of size, can harness this power and deliver this speed.”

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Plaid’s suite of products streamlines account authentication and drives efficiencies throughout the lending process. When using Plaid’s digital asset verification product at the point-of-sale, loan originators can boost application completion rates and reduce time to close. Additionally, Plaid is a Day 1 Certainty asset verification report supplier for Fannie Mae Desktop Underwriter, which offers peace of mind to lenders by providing rep and warrant relief on verified loan components. Fannie Mae has seen loans with assets validated through the DU validation service close 17% faster on average.

FinKube is the creator of ELSA, which stands for Electronic Loan Services Assistant. ELSA uses machine learning to enhance the loan process from origination to close. ELSA can gather borrower information, render decisions, automate time-consuming tasks, and help lenders produce fully compliant mortgage loans in as few as 20 days.

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Making The Digital Mortgage Easy

FinKube, a company that provides AI-powered Platform-as-a-Service solutions for a range of industries, has published a new white paper entitled “Simplifying the Digital Mortgage Process.” The new paper outlines some of the risks lenders face when making choices about the technologies they employ on the front ends of their mortgage origination processes.

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“It’s in the best interests of the mortgage technology vendor community for lenders to believe that meeting the digital requirements of modern mortgage borrowers is complicated,” said Jorge Sauri, founder and CEO of FinKube. “We don’t believe it is. Instead of investing in technology that changes the way the lender operates an existing business, there is far less risk in using adaptive technology that has the cognitive power to take the lender’s existing business digital. This requires the lender to rethink what it means to go digital, which is the focus of our new white paper.”

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In the paper, FinKube outlines the four objectives a lender must achieve if they hope to compete with the nation’s largest fintech lenders. It also explains how to win more customers without investing in an expensive call center, like the nation’s largest firms have done in order to serve as the back office for their digital front ends.

FinKube is the creator of ELSA, which stands for Electronic Loan Services Assistant. She is an intelligent assistant and uses AI and machine learning to enhance the origination process from origination to close. ELSA can gather borrower information, render decisions, automate time-consuming tasks and help lenders produce fully compliant mortgage loans in as few as 20 days.

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FinKube was founded by Jorge Sauri, an industry veteran with nearly 20 years of experience developing IT solutions and technology platforms for banks, lenders and real estate companies. He developed the mortgage industry’s first cloud-based software for underwriting subprime mortgages at Arc Systems and then developed a completely cloud-based LOS called MortgageDashboard.

To download a free copy of the white paper, visit the company’s website at http://bit.ly/2B5z9ya

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