Ai solutions Artificial Intelligence Based Services for Real-Time Banking

UNDERWRITE.AI

Location: Boston

How it's using AI in finance: Underwrite.ai analyzes thousands of data points from credit bureau sources to assess credit risk for consumer and small business loan applicants.

The platform acquires portfolio data and applies machine learning to find patterns and determine good and bad applications. Because of its accuracy, Underwriter.ai claims it can reduce defaults by 25-50%.

Industry impact: Since working with Underwriter.ai in 2015, a major online lender providing dental financing reduced its default rate from 17.8% to 5.4%, according to a case study cited on the company's website.