Lendi sharpens its home loan process with Google Cloud

Lendi sharpens its home loan process with Google Cloud

Australian fintech Lendi is using Google Cloud capabilities to automate its mortgage origination process as it works towards a long-term goal of achieving same day approval for a loan.

Lendi is an online home loan marketplace which combines specialist advice and comparison data to assist customers in finding and securing a loan. It has processed over 2 million applications so far.

The fintech has recently started using Google Cloud services for artificial intelligence and machine learning to help it automate and speed up data-intensive aspects of the home loan origination process.

Origination refers to the process of a lender working with a borrower to approve a mortgage loan.

Speaking at a Think Google fireside chat event, Lendi chief product officer and co-founder Mark Kalajzich said the fintech is working with Google services to remove “pain points” from the home loan process.

“The home loan is not really a monolithic item, it’s not just one big thing,” he said.

“At the core of it, it’s 400 different processes, problems, verification, credit scores, credit pieces of data, assets, income, expenses, whatever it might be.

“And I think when you break all of those down to their smallest piece of the problem, Google’s helping us solve many of those.

“The more than we can bring data into play, automate clunky processes, use machine learning and ultimately AI to solve those problems the more pain points we take out, and the easier it is for us to solve the customer’s problem.”

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Source: Lendi sharpens its home loan process with Google Cloud – Strategy – Cloud – iTnews