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AIO - Verified Business Identity

AIO

Lending
Commercial Lending
Digitized and KYC-verified borrower document collection for rapid decisioning
Lending
Commercial Lending
Digitized and KYC-verified borrower document collection for rapid decisioning

AIO Digitizes and streamlines the entire document collection and verification to enable faster, better experience to borrowers, lower processing costs and speed up of evaluation - so you can provide more loans to qualified borrowers while being protected from fraudulent applications. 

In 2020, 33% of commercial lending requests were submitted to online lenders. The average time for loan approval is 26 days for physical banks, whereas emerging online lenders are supplying funds in as little as 1 to 7 business days. This is because many community banks and credit unions are overwhelmed by workload of incoming loan applications that require slow, manual data collection processes and hybrid online/offline loan request processes.  Printed/emailed checklists for customers and physical submission at the branch load to poor customer experience. For the bank, hand operated tasks lead to an, and even to bad loan approbations when it induces insufficient fraud detection.

Digitized experience

Overcome the poor customer experience due to manual back-end processing by offering your clients a user-friendly digital experience: digital guidance, easy collection, built in privacy & verification.

Quick decisioning

Considerably reduce decisioning time/cost: use a continuous interaction with customers to complete information collection, process the data automatically & allow credit officer to return a decision fast.

Real time verification

Overcome the increasing risk of fraudulent and erroneous applications: automatically verify and validate your customer documents and data from multiple trusted sources using patented technology.

Company Verified
Security Verified

General information

Commercial model
Resell
Integration
Pre-integrated products
Fusion Credit Quest
doneAvailable for all 3rd party systems
Implementation
Cloud Hosted
Website
Support
Privacy policy
Data processing countries
Israel
United States of America

How it works

The applicant accesses AIO’s solution where a pre-loaded, customized documentation checklist is waiting for her already.  The checklist takes the applicant through the onboarding documentation showing them where to find the documents, storing the documents and allowing the applicant to share the documents with the lender where AIO will validate the authenticity and validity of the documentation. 

Digital experience, customer control

Lender initiates a loan in Fusion CreditQuest or AIO’s portal, encourages the borrower to onboard using AIO and defines the required documents.

No running around, time saved

AIO assists the borrower in attaining the required documents digitally and approves their authenticity and validity by patented technology.

Privacy by Design and Data Protection

Borrower chooses which documents to share with the lender; transferred securely to lender’s platforms.

Efficiency turned to revenue generation

Lender gets the verified documents directly to Fusion CreditQuest, assesses risk, and issues the loan much faster.
How it works

How it looks

Borrower portal

a secure document portal for FI’s to gather client documents

The self-service client portal

A user-friendly experience

Financial institution portal

Enables document exchange of tax returns, financials, bank records in one source for rapid decisioning.
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Borrower portalThe self-service client portalFinancial institution portal

Borrower portal

a secure document portal for FI’s to gather client documents

Resources