Lending Valley CEO Chad Otar Announces A.I. Powered Funding

Artificial intelligence is the smart investment in finance right now. The financial industry is capitalizing on new tech to work smarter and faster, meeting client demands better than ever. Now funding expert Chad Otar is throwing his hat in the ring with the latest in AI for file underwriting.

Chad Otar, founder and CEO of the Lending Valley startup, explains that the firm is trialing proprietary AI technology to underwrite files in seconds. Condensing a days-long process into seconds? Apparently so.

By reducing the underwriting turnaround time, his advisors can focus on delivering a personalized loan recommendation with a lean wait time. When Lending Valley’s clients need a quick capital injection, turning a ‘pretty fast’ application process into a ‘record speed’ one can be the pivotal move that keeps the front-running company ahead of its competitors. And there are many.

So it’s no surprise the funding powerhouse is fired up to deliver on the ever growing expectation of online consumers.

AI might be the trending topic of 2020, but Otar cautions us on using the right applications. According to the CEO and thought leader, it’s not about using everything—it’s about using the best tools for your industry. In the Finance industry, he doesn’t want to see AI involved in the loan recommendation process, and says we’ll need to tread lightly in the current trend for self-service lending.

According to the experts, funding recommendations should be tailored to what the client needs, what they can afford, and what they need to achieve at various stages of their business’ life-cycle. But that’s only the start. There’s a lot to factor in. Right now, AI can’t do that as well as a lending expert can.

Otar explains, “What AI can do—in our industry—is streamline the processes earlier on in the system. We’re using a highly sophisticated algorithm, backed by years of data, to pull all the information we need and match each unique client to the best possible loan approval…in seconds. That’s what’s going to drive us forward.”

So if AI isn’t ready to handle client interaction right now, what is the FinTech arena using it for?

3 FinTech spaces where AI is stretching its legs

Establishing Creditworthiness