LendingClub streamlines document verification to seconds with AI
Bank expects added tech to add 9,000 loans per year
LendingClub is piloting AI to streamline document verification in the lending process. “The AI-assisted document verification workflow automates part of the lending process that historically required manual review,” Lukasz Strozek, chief technology officer of Lending Club, told FinAi News. For example, manual verification for income or addresses previously took more than 24 hours, he said. However, “with AI performing an increasing share of verifications, we reduce the latency of this step to […]
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