AI-Powered Loan Origination: Faster Decisions, Lower Risk, Smarter Growth
Ditch the manual underwriting and legacy bottlenecks.
Our custom AI solutions automate your entire lending lifecycle—from application to
closing—for unparalleled speed, accuracy, and compliance.
From Days to Minutes: Reimagine Your Lending Workflow
The modern borrower expects instant decisions and a seamless digital experience. Yet, many lenders are trapped by manual processes, legacy systems, and mounting regulatory pressures. This friction leads to slow approvals, inconsistent decisions, higher operational costs, and a greater risk of fraud and defaults. In a competitive market, relying on outdated methods isn't just inefficient—it's a threat to your growth and profitability. It's time to move from a system of record to a system of intelligence. Errna's AI-powered loan origination solutions provide the competitive edge you need, transforming your entire lending lifecycle into a fast, accurate, and scalable engine for growth.
Your Strategic Partner in AI-Powered Lending
We don't just build software; we build strategic assets that drive measurable business outcomes. Our unique blend of deep FinTech expertise, proven AI capabilities, and a commitment to security and compliance makes us the ideal partner to navigate your digital transformation.
Explainable AI (XAI) at the Core
We build transparent AI models that provide clear, auditable reasons for every decision. This "glass-box" approach ensures you can satisfy regulators, build trust, and meet fair lending requirements like ECOA with confidence.
Seamless Legacy System Integration
Our expertise lies in modernizing, not just replacing. Using an API-first architecture, we seamlessly integrate our AI intelligence layer with your existing core banking systems and LOS, minimizing disruption and maximizing ROI.
Rapid ROI & Phased Implementation
We deliver value quickly. Our agile, phased approach, often starting with a Proof-of-Concept, allows you to see tangible results and build a business case for larger transformation without a massive upfront investment.
Bank-Grade Security & Compliance
As a CMMI Level 5 and SOC 2 certified company, security is in our DNA. We implement end-to-end encryption, robust access controls, and data privacy protocols to protect your most sensitive asset: customer data.
Deep FinTech Domain Expertise
We speak your language. Our team consists of not just AI engineers, but also financial analysts and regulatory experts who understand the nuances of credit risk, underwriting, and the lending landscape.
True Partnership Model
We function as an extension of your team. From initial strategy to post-deployment monitoring and optimization, we are with you at every step, ensuring the solution evolves with your business needs.
Focus on Measurable Outcomes
Our goal is to impact your bottom line. We define success by metrics that matter to you: reduced default rates, lower cost-to-serve, increased loan volume, and improved customer satisfaction.
Fully Customizable Solutions
Unlike off-the-shelf products, our solutions are tailored to your specific credit policies, risk appetite, and business goals. We build a system that works for you, not the other way around.
Future-Proof Technology Stack
We build on scalable, modern platforms (cloud-native, microservices) that ensure your lending infrastructure is agile, resilient, and ready for future innovations in AI and financial technology.
End-to-End AI Loan Origination Services
We offer a comprehensive suite of services to automate and optimize every stage of your lending lifecycle. Whether you need a powerful underwriting engine, advanced fraud detection, or a complete modernization of your platform, we have the expertise to deliver.
AI-Powered Underwriting Engine
Automate up to 90% of your underwriting decisions with a custom AI engine that analyzes thousands of data points in seconds. This core component of your lending platform ensures consistency, speed, and accuracy, freeing up your human underwriters to focus on complex, high-value cases.
- Dramatically reduce decisioning time from days to minutes.
- Improve consistency and reduce bias in lending decisions.
- Scale your loan processing capacity without increasing headcount.
Predictive Credit Scoring Models
Go beyond traditional FICO scores. We build sophisticated machine learning models that provide a more accurate and nuanced assessment of credit risk. By incorporating a wider range of data, you can approve more qualified borrowers while reducing default rates.
- Lower default rates by more accurately identifying high-risk applicants.
- Increase approval rates by identifying creditworthy individuals missed by traditional scores.
- Gain a deeper understanding of the key drivers of credit risk in your portfolio.
Automated Document Processing (IDP)
Eliminate manual data entry and document verification. Our Intelligent Document Processing (IDP) solutions use AI-powered OCR and computer vision to automatically extract, classify, and validate information from pay stubs, bank statements, and ID cards with near-perfect accuracy.
- Reduce document processing costs by over 70%.
- Accelerate application processing by eliminating manual data entry bottlenecks.
- Minimize human error and improve data quality from the start.
AI-Driven Fraud Detection
Protect your business from synthetic identity fraud, income misrepresentation, and other sophisticated schemes. We build real-time fraud detection models that analyze behavioral patterns, device data, and network links to flag suspicious applications before they cause a loss.
- Significantly reduce losses due to fraudulent applications.
- Detect emerging fraud patterns faster than rule-based systems.
- Improve the experience for legitimate customers with fewer false positives.
Dynamic Pricing & Offer Personalization
Move from one-size-fits-all loan products to hyper-personalized offers. Our AI models analyze an applicant's complete profile to determine the optimal interest rate, term, and loan amount, maximizing both acceptance rates and profitability.
- Increase loan acceptance rates by tailoring offers to individual borrowers.
- Optimize net interest margin by pricing for risk more accurately.
- Enhance customer loyalty by providing fair, personalized, and transparent pricing.
Compliance & Fair Lending Audit Tools (XAI)
Ensure your AI-driven lending practices are fair, transparent, and compliant. We build explainable AI (XAI) dashboards and reporting tools that allow you to monitor for potential bias, analyze the factors driving decisions, and generate audit trails for regulators.
- Proactively manage and mitigate fair lending risk (e.g., ECOA).
- Provide regulators with clear, data-backed evidence of model fairness.
- Build trust with stakeholders through transparent and responsible AI governance.
Legacy LOS Modernization & Integration
Unlock the power of AI without a painful "rip-and-replace" project. We specialize in building robust API layers and microservices that integrate seamlessly with your existing Loan Origination System (LOS), injecting modern intelligence into your proven workflows.
- Extend the life and capabilities of your existing technology investments.
- Avoid the cost and disruption of a full system migration.
- Create an agile, future-ready architecture that can easily incorporate new technologies.
Alternative Data Analysis
Expand your addressable market by safely incorporating alternative data sources. We develop systems to analyze cash flow data, rental payments, educational background, and other non-traditional data points to assess the creditworthiness of thin-file or no-file applicants.
- Safely lend to underbanked and underserved populations.
- Gain a competitive advantage by tapping into new market segments.
- Build more robust and inclusive credit models.
Portfolio Risk Monitoring
Don't wait for a loan to default to recognize risk. We build AI-powered dashboards that continuously monitor your loan portfolio, identifying early warning signs of distress and predicting which loans are most likely to become delinquent, allowing for proactive intervention.
- Reduce charge-offs by identifying and addressing at-risk accounts early.
- Optimize your collections strategy by focusing resources on high-risk accounts.
- Gain real-time insight into the overall health of your loan portfolio.
Borrower Churn Prediction
Retain your most valuable customers. Our churn prediction models identify borrowers who are likely to refinance with a competitor, enabling you to launch targeted retention campaigns with proactive offers before they leave.
- Increase customer lifetime value by improving retention rates.
- Reduce customer acquisition costs by retaining more of your existing base.
- Enhance customer relationships through proactive engagement.
AI Chatbots for Loan Applications
Provide 24/7 support and guide applicants through the process with intelligent chatbots. Our conversational AI solutions can answer common questions, help users complete applications, and collect necessary documents, improving completion rates and customer satisfaction.
- Increase application completion rates by providing instant assistance.
- Reduce the burden on your human support staff.
- Deliver a modern, convenient, and engaging customer experience.
Custom LOS Platform Development
For lenders with unique needs that off-the-shelf solutions can't meet, we offer end-to-end custom Loan Origination System (LOS) development. We build scalable, secure, and fully-tailored platforms from the ground up, with AI embedded at every step.
- Gain a powerful competitive advantage with a platform built for your specific strategy.
- Achieve maximum workflow efficiency with a system designed around your processes.
- Own your technology stack for ultimate flexibility and control.
Secure Data Infrastructure Setup
A powerful AI model is only as good as the data it's built on. We design and implement secure, scalable data pipelines and cloud infrastructure (on AWS, Azure, or GCP) to ensure your data is clean, accessible, and ready for advanced analytics while meeting all security and compliance standards.
- Ensure the highest levels of data quality and integrity.
- Build a scalable foundation for all your current and future AI initiatives.
- Meet stringent data security and regulatory requirements (e.g., GDPR, CCPA).
AI Model Monitoring & Optimization
The lending market is constantly changing, and your AI models must adapt. We provide ongoing monitoring services to detect model drift and performance degradation, continuously retraining and optimizing your models to ensure they remain accurate and effective over time.
- Maintain peak model performance and accuracy.
- Adapt to changing economic conditions and borrower behaviors.
- Ensure long-term, sustainable ROI from your AI investment.
Strategic AI Roadmap Consulting
Not sure where to start? Our expert consultants work with your leadership team to assess your current capabilities, identify the highest-impact opportunities for AI, and develop a pragmatic, step-by-step roadmap for transforming your lending operations.
- Align your technology investments with your core business objectives.
- Prioritize initiatives to achieve the fastest and most significant ROI.
- Develop a clear, actionable plan for long-term success with AI.
Proven Results in Financial Services
Automating Mortgage Processing for a Mid-Sized Regional Bank
Industry: Banking & Mortgage Lending
Client Overview: A respected regional bank with $15B in assets was facing intense competition from digital-first lenders. Their mortgage application process was heavily manual, taking an average of 35 days to close, leading to high operational costs and a frustrating experience for borrowers.
The Problem: The bank's underwriters were overwhelmed with manually reviewing documents like pay stubs, tax returns, and bank statements. This created a significant bottleneck, limiting their loan volume capacity and increasing the risk of human error in data entry and verification.
Key Challenges:
- Extremely long "application-to-close" cycle times.
- High cost-per-loan due to intensive manual labor.
- Inability to scale operations to meet market demand.
- Risk of losing customers to faster, more agile competitors.
Our Solution:
Errna developed and integrated an Intelligent Document Processing (IDP) and automated underwriting solution. The system was designed to augment, not replace, their existing LOS.
- AI-Powered Document Analysis: Deployed an IDP module to automatically scan, classify, and extract key data points from all application documents with 99.2% accuracy.
- Automated Verification Rules: Implemented a rules engine to automatically verify extracted data against the bank's credit policies.
- Underwriting Recommendation Engine: Built a machine learning model that provided a preliminary underwriting recommendation (Approve, Deny, Refer to Human) for 85% of applications.
- Underwriter Dashboard: Created an intuitive dashboard where human underwriters could quickly review the AI's findings and focus only on the complex, exception-based cases.
Reducing Default Rates for a High-Growth FinTech Lender
Industry: FinTech & Personal Lending
Client Overview: A venture-backed FinTech startup specializing in personal loans for near-prime consumers was growing rapidly. However, their reliance on traditional credit scores was leading to higher-than-expected default rates, threatening their profitability and ability to secure further funding.
The Problem: The client needed to find a way to more accurately assess the risk of applicants who had limited credit histories. Their existing model was not effectively differentiating between good and bad risks within this specific customer segment.
Key Challenges:
- Unacceptably high first-payment default rates.
- Difficulty in assessing risk for "thin-file" applicants.
- Pressure from investors to improve portfolio performance.
- Need to maintain fast, automated decisioning to compete.
Our Solution:
Errna built a custom, predictive credit scoring model using a combination of traditional and alternative data sources.
- Alternative Data Integration: Developed secure APIs to incorporate consented data streams, including bank transaction data (cash flow analysis) and utility payment history.
- Advanced Feature Engineering: Created hundreds of new predictive features from the raw data, such as income stability, spending habits, and cash-flow volatility.
- Gradient Boosting Model: Deployed a high-performance Gradient Boosting Machine (GBM) model that significantly outperformed their previous logistic regression model in predicting defaults.
- Explainable AI (XAI) Layer: Integrated a SHAP (SHapley Additive exPlanations) framework to ensure that every decision could be explained, satisfying both internal risk teams and potential regulatory scrutiny.
Combating Synthetic Identity Fraud for an Enterprise Auto Lender
Industry: Automotive Finance
Client Overview: A top-5 national auto lender was experiencing a sharp increase in losses from sophisticated fraud schemes, particularly synthetic identity fraud, where criminals create fake identities to secure loans and then disappear.
The Problem: Their existing fraud prevention system was based on static rules and third-party database checks, which were ineffective against synthetic identities that often looked legitimate on paper and could pass traditional identity verification checks.
Key Challenges:
- Millions in annual losses from fraud-related charge-offs.
- Inability of the current system to detect novel fraud patterns.
- High number of false positives, delaying legitimate applications.
- Reputational risk associated with fraud.
Our Solution:
Errna designed and deployed a real-time, AI-powered fraud detection engine that analyzed behavioral and network-level data.
- Behavioral Analytics: The system analyzed how an application was filled out, including typing speed, copy-pasting, and mouse movements, to detect non-human behavior.
- Device & IP Intelligence: Integrated tools to analyze device fingerprints, IP address reputation, and proxy usage to identify high-risk connections.
- Graph Network Analysis: Built a graph database to map connections between applications, identifying fraud rings that used shared addresses, phone numbers, or social security numbers.
- Real-Time Scoring API: The AI model delivered a fraud risk score in under 200 milliseconds, allowing for immediate intervention without slowing down the application process for legitimate customers.
Our Agile & Collaborative Development Process
We follow a proven, transparent process designed to de-risk your investment and ensure the final solution is perfectly aligned with your business goals.
1. Discovery & Strategy
We immerse ourselves in your business, mapping workflows, identifying pain points, and defining clear, measurable objectives for the project.
2. AI Prototyping & Design
We build a working prototype or Proof-of-Concept to validate our approach and demonstrate the potential ROI before committing to full-scale development.
3. Agile Development
Working in two-week sprints, we build, test, and iterate on the solution, providing regular demos to ensure continuous feedback and alignment.
4. Deployment & Optimization
We manage the full deployment into your live environment and provide ongoing monitoring and optimization to ensure the AI models continue to perform at their peak.
Technology & Tools We Master
We leverage a modern, best-in-class technology stack to build robust, scalable, and secure AI lending solutions.
What Our FinTech Clients Say
"Errna's AI team is exceptional. They didn't just deliver a model; they delivered a comprehensive solution that integrated perfectly with our legacy LOS. The impact on our mortgage processing speed was immediate and transformative."
"The explainable AI component was a game-changer for us. We can now confidently use advanced machine learning for underwriting while maintaining full transparency for our auditors and compliance teams. Errna understood our regulatory needs from day one."
"We were struggling with high default rates in our personal loan portfolio. The predictive credit scoring model Errna built, using alternative data, has been incredibly accurate. It's allowed us to grow our loan book responsibly."
"The automated document processing solution has saved my team thousands of hours. What used to be a manual, error-prone task is now almost entirely automated. The accuracy is astounding, and it's freed up my team to focus on customer service."
"Working with Errna felt like a true partnership. They took the time to understand our unique business challenges and built a fraud detection system that was tailored to our specific needs. The results have exceeded all our expectations."
"As a startup, we needed to move fast without compromising on technology. Errna's phased approach allowed us to get a powerful AI prototype up and running quickly, which was crucial for securing our next round of funding. They are a fantastic partner for growth-stage companies."
Frequently Asked Questions
This is a critical concern, and we address it head-on. We use a multi-faceted approach: 1) **Data Preprocessing:** We carefully analyze and clean training data to identify and mitigate historical biases. 2) **Bias Detection Algorithms:** We employ advanced techniques to test models for disparate impact across protected classes before deployment. 3) **Explainable AI (XAI):** Our core principle. We provide tools that show exactly which factors influenced a specific lending decision, ensuring transparency and allowing for audits. 4) **Regular Monitoring:** We continuously monitor model performance post-deployment to detect and correct any emerging biases.
The timeline varies depending on the complexity of the solution and the state of your data infrastructure. However, our agile approach is designed for speed. A Proof-of-Concept (PoC) to demonstrate value can often be completed in 8-12 weeks. A full production-level deployment typically ranges from 4 to 9 months. We work with you to define a phased roadmap that delivers value at each stage.
Absolutely. This is one of our core strengths. We specialize in building robust, secure API layers that allow our AI modules (like underwriting, fraud detection, or document processing) to communicate seamlessly with your existing systems, whether it's a mainstream platform like Encompass® and MeridianLink® or a proprietary, in-house system. Our goal is to enhance your current investment, not force a costly replacement.
The more high-quality historical data, the better. Typically, we work with several years of anonymized loan application data, including applicant characteristics, financial details, and the final loan performance (e.g., paid in full, defaulted). For more advanced models, we can also integrate alternative data sources, transaction data, or document images. Our data scientists will work with your team to assess your data readiness and create a strategy for data acquisition and preparation.
Security is paramount. As a SOC 2 and ISO 27001 certified company, we adhere to the strictest security protocols. All data is encrypted both in transit and at rest. We work within your secure cloud environment (or help you set one up) and implement role-based access controls to ensure data is only accessible by authorized personnel. Our solutions are designed to be compliant with major data privacy regulations like GDPR and CCPA.
The ROI is typically significant and comes from multiple areas: 1) **Operational Efficiency:** Drastic reduction in manual labor costs for underwriting and document processing. 2) **Reduced Credit Losses:** More accurate risk assessment leads to lower default rates and charge-offs. 3) **Increased Revenue:** Faster processing and higher approval rates for qualified applicants allow you to grow your loan volume. 4) **Fraud Prevention:** Direct savings from stopping fraudulent loans before they are funded. We work with you during the initial discovery phase to build a detailed business case and estimate the potential ROI for your specific situation.