AI can transform lending, but it cannot replace human judgement
By Varun Malhotra, Chief Technology and Data Officer, Capri Global Capital Limited.
Artificial intelligence is revolutionising the lending industry where the work is document-heavy and data-driven. It can support lenders in checking information, identifying risk signals and assisting borrowers more efficiently. The strongest model, however, is not autonomous lending. It is a meticulously regulated blend of AI, fixed rules, and responsible human judgement.
Optical character recognition can retrieve data from tax records, bank statements, invoices, and identity documents, while language models can structure unstructured text and identify inconsistencies. Tasks that once needed hours of manual reading can now be finished in minutes, enabling credit teams to concentrate on analysing data.
AI is reshaping the lending workflow
Optical character recognition can extract information from bank statements, tax records, invoices and identity documents, while language models can organise unstructured text and highlight inconsistencies. Tasks that required hours of manual reading can be...
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