iBusiness Funding, a prominent provider of advanced financing solutions, is excited to introduce the launch of LenderAI Prodigy, an innovative feature within their primary end-to-end SBA software solution, LenderAI. This new feature encompasses a cutting-edge array of AI chatbots designed to enhance user experience. The initial chatbot integrated by iBusiness Funding aims to assist users in efficiently navigating the SBA’s Standard Operating Procedures (SOP) with precision. Users can pose any SBA-related query to the chatbot, which promptly provides the accurate response in alignment with the SOP, along with a reference to the specific section being cited. Originally developed and successfully utilized internally by iBusiness Funding, this functionality is now accessible to all LenderAI clients through the Prodigy feature. This initiative not only highlights iBusiness Funding’s proficiency in AI technology but also underscores their dedication to rigorously testing and perfecting innovations before making them available to the broader market.
Transitioning Innovative AI Technology from Internal Use to Client Advantage
Justin Levy, the CEO of iBusiness Funding, expressed, “The SOP chatbot proved to be a transformative tool for our internal teams, facilitating seamless navigation of the intricacies within the SBA’s SOP. Recognizing its impact, we recognized the importance of adapting and extending this powerful tool to benefit our clients.” Levy further elaborated, “Users can inquire about various SBA-related topics such as ‘How do I release collateral in loan servicing?’ or ‘Please outline the maximum rates of SBA loans,’ receiving instantaneous and accurate responses.” By expediting access to reliable information, this tool significantly minimizes the time and effort required for financial institutions to retrieve essential data. Moreover, it undergoes frequent updates to ensure alignment with any modifications or revisions to the SOP. Levy emphasized, “Our primary objective with the inaugural chatbot in the Prodigy feature is to empower banks and credit unions with a tool that not only saves time but also guarantees accuracy and compliance with the latest SOP amendments. Our chatbot is designed to be future-proof, adapting to changes in the SOP promptly, thereby providing our clients with the assurance that the responses to their inquiries are consistently precise.”
Pioneering Innovation and Future Advancements
As the pioneering AI tool of its kind in the market, LenderAI Prodigy underscores iBusiness Funding’s position as a trailblazer in the realms of financial technology and artificial intelligence. The forthcoming chatbot release will cater to lenders utilizing LenderAI, offering a tailored chatbot reflecting their specific credit policies and guidelines for internal use. This development aims to simplify the process for lenders, enabling their staff to swiftly comprehend internal guidelines and policies by relying on a singular, reliable source of information. Furthermore, additional chatbots are currently in the developmental pipeline, promising to further enrich LenderAI’s functionalities.
Embark on the Transformation
To explore the transformative potential of LenderAI in optimizing SBA loan procedures, visit https://ibusinessfunding.com/lenderai.
About iBusiness Funding
iBusiness Funding stands out as a leading provider of lending solutions catering to banks and lenders of various scales, with a specialized focus on SBA lending. The company is committed to streamlining the business lending process to efficiently deliver capital to small and medium-sized enterprises. To date, iBusiness Funding has facilitated over $5 billion in SBA loans, processing more than 1,000 business loan applications daily through its platform. For additional information, kindly visit www.ibusinessfunding.com.
