How lenders can keep up with rapid advances in financial AI

The role of AI in financial services is expanding quickly. For lenders, that means new ways to process applications, assess risk and detect signs of fraud. These solutions help forward-thinking mortgage, consumer and small business lenders increase operational efficiency, reduce costs and improve decision-making.

The pace of AI development is accelerating, with major players like OpenAI, Gemini and Anthropic continually pushing the boundaries of what’s possible. New AI models emerge regularly, each promising improved accuracy, faster processing and better insights. While these advances create opportunities to modernize lending workflows, staying current can feel overwhelming.

The value of partnering with an experienced AI developer

When adopting AI, lenders must decide whether to build their own solutions or partner with an experienced financial AI application developer. It may be tempting to develop in-house solutions, but building, maintaining and optimizing AI applications is complex and resource-intensive.

Even at the foundational level, inconsistent methods of confidence scoring between models mean comparing inches to centimeters when deciding which technology to use. Rather than navigating this complex landscape alone, lenders can simplify AI adoption, implement the latest technologies and ensure solutions meet their needs by partnering with experts in financial AI.

AI applications in specific verticals

Although general AI tools exist, financial services require specialized applications to address the unique challenges of mortgage lending and small business lending. At Ocrolus, our AI-powered document automation focuses on the application layer, where we combine foundational AI models with industry-specific knowledge built over more than a decade of financial AI experience. This approach delivers the analytics and actionable insights lenders need to make more informed underwriting decisions.

By combining AI’s speed and efficiency with thousands of human-in-the-loop verifiers, we deliver 99% accurate decision-ready data that lenders can confidently use to:

How Ocrolus continually improves financial AI

Ocrolus continually evolves and integrates new AI technologies alongside human-in-the-loop (HiTL) verification to deliver 99%+ accuracy. A key element of our solution is universal calibration, which addresses the challenge of apples-to-oranges comparisons among foundational AI models. Using verified HiTL decision-ready data, we calibrate AI confidence scores on a standardized scale so analytics and insights are based on the most accurate financial information.

Combined with our extensive library of high-quality training data, built by processing millions of applications each year, this system allows us to deliver consistently advancing AI-driven solutions to our partners.

Conclusion

AI is revolutionizing the financial sector, providing lenders with tools to streamline operations, reduce risk and enhance decision-making. However, the fast-paced AI landscape can be daunting. Rather than trying to develop and maintain in-house AI solutions, lenders should partner with an experienced provider to ensure they’re leveraging the best available technology.

Book a demo to learn how Ocrolus can bring the power of AI to your lending workflow.

Key takeaways

• AI is advancing at a rapid pace, creating new opportunities for lenders to improve workflows and make more informed financial decisions
• Partnering with a specialized AI-powered data and analytics platform can simplify adoption and ensure lenders use the latest, most suitable technologies
• Human-in-the-loop verification combined with high-quality training data helps Ocrolus deliver 99% accurate, decision-ready data and insights tailored to lending workflows