JUDI.AI accelerates loan applications with AI

By Navin Mirania

Fintech startup JUDI.AI has released a press statement declaring its support for Canada during the financial strains caused by the COVID-19 pandemic. 

Based in Vancouver, the company has a dedicated team of PhDs, data scientists, banking industry experts, SaaS developers, physicists and product strategists grouped together with a singular purpose: providing lenders with best-in-class insights into credit risk and financial health.

Believing that digital solutions can be transformative during difficult economic times, JUDI.AI’s credentials as innovators was put to the test recently when it had to design a solution for the government’s Canada Emergency Business Account (CEBA) scheme.

Delivering the solution in a compressed amount of time, the company has now processed more than $150mn in loan applications. 

“During these unique times, it’s an important business decision to make to steer slightly away from your short-term product roadmap in order to continue to support Canada’s small business community,” said Gord Baizley, CEO.

“We have a platform that is engineered to enable us to be nimble and make rapid deployments – allowing us to adapt in real-time to the current market demand for support in operationalizing the BCAP loan programs.”

Supporting Canadian business

With loans for SMEs up by 49% across the board, JUDI.AI foresees further disruption to the nation’s economy and is pledging its support to keep small enterprises afloat. 

SEE ALSO:

As such, the company has formulated a navigational framework for financial institutions unsure of how to handle increased volumes of loan applications:

  • Utilise government-funded programmes

  • Employ remote tools

  • Monitor loan books in real-time

  • Supplement decision-making with real-time analytics

JUDI.AI notes that the above can be implemented with great flexibility - institutions have the freedom to choose all for a holistic solution, or select individual items for a more bespoke approach.

The company’s platform can be deployed in approximately two weeks, with the option of grafting certain elements onto an existing system if preferred. 

Available services include automated underwriting, credit risk analysis and financial risk monitoring. All of JUDI.AI’s solutions employ cutting-edge AI-powered analytical software and automation capabilities, streamlining decision-making and speeding up the loan process.

As the COVID-19 pandemic continues, innovators like JUDI.AI could make all the difference to the Canadian business community’s continuity.

“We are extremely happy to be able to support the small business community and our valued lending customers through this situation,” added Baizley.

For more information on business topics in the United States, please take a look at the latest edition of Business Chief North America

Share

Featured Articles

Top 10 cybersecurity specialists in the US

As cyber attacks grow in frequency and become increasingly sophisticated, Business Chief looks at the top 10 cybersecurity specialists in the US.

Silicon Valley Bank collapse: How did we get here?

US authorities have stepped in to protect all Silicon Valley Bank customers following the second-largest bank failure in the country's history

Top 10 best new leadership books by women to read in 2023

To mark IWD, here’s our pick of the best new leadership books – all penned by impressive women at the forefront of the ever-evolving world of work

Eight of the best business leadership podcasts

Leadership & Strategy

CEO John Pagano, leading Saudi Arabia's Red Sea Global

Leadership & Strategy

Top 10 female CEOs according to Fortune’s Global 500 list

Leadership & Strategy