Lenflo, an entirely paperless and AI-powered commercial lending platform for brokers and borrowers has officially been launched.
Developed by commercial lender Global Capital Commercial, the platform offers more than 450 lenders and has the capacity for $1bn in settlements per month with its developer predicting that it will boost commercial loan approvals by 500 per cent.
According to Global Capital Commercial, the Lenflo commercial loan platform has an AI-powered pricing engine that has delivered indicative funding proposals with over 97 per cent accuracy in lender approval rating, during its testing period.
Additionally, Lenflo is promising to reduce loan application and approval times by more than 75 per cent, with indicative funding proposals delivered in as little as 10 minutes.
According to Global Capital Commercial spokesperson Andrew West, the platform will help brokers maintain their incomes in 2020 and beyond.
‘Our AI-driven pricing engine identifies the optimum finance product for any requirement.’
‘Instead of painstakingly researching areas of business they are not familiar with, brokers are guided through the process required for a particular borrower category, from property developers, property purchase and loan refinancing, to self-employed borrowers, SMSFs, bridging finance and other business customers.’ Mr West said.
‘As financial products become more sophisticated and niches grow, there are more specialist areas of lending dotting the landscape. Our platform will help brokers successfully navigate these areas,’ Mr West said.
Global Capital Commercial will commence rolling out Lenflo to accredited brokers this month.