financial AI

Automated Underwriting.
360° Customer View.
Product Cross-selling.

Cognistx AI gives the financial services industry the power to accelerate the underwriting and loan review process; to provide a 360º view of the customer to personalize their experience; to generate cross-selling product recommendations; and to improve the customer onboarding journey. Continuous deep learning ensures that our tools become smarter and more accurate for you as you use them.

Can financial AI help you?

“By using AI to assist our financial institution

in sifting through thousands of loan applications, we were able to save valuable time and focus on qualified loans. The team at Cognistx distilled the goals of the $25 million fund, offered insights that we had not considered and then created value added business rules that were critical to the speed and success of the program."

Michael Sellinger | Miami Bayside Foundation

“Long-term, this artificial intelligence program

will help aid all applications that impact small businesses and develop a playbook for the future making accessibility to loans more efficient. We were able to quickly put a program together that will be here not only during disasters but brighter days to support small businesses in Miami-Dade."

Sanjay Chopra | CoFounder, Cognistx

Cognistx Automated Loan Underwriting

Step 1

Client data (erp, crm, unstructured) is prepared for input to the system via cloud storage dump or API integration.

Step 2

Data is ingested and prepared for the rule engine application through preprocessing, cleaning and normalizing.

Step 3

Rule engine applies business rules and AI/ML to determine if loan application is approved, denied, or needs additional documentation.

Step 4

Additional documentation is identified and requested of applicant and processed for determination.

Financial AI Features and Benefits

Analytics and Alerts

Human Feedback Loop

Continuous Deep Learning

Clustering and Classification

Automatic Data Extraction

Significant Time Savings

interested? Request to Speak to a data scientist

case study

financial ai

Miami Bayside Foundation partnered with Cognistx, a Pittsburgh-based applied artificial intelligence (AI) company, to use AI programming to process RISE Miami-Dade Fund applications at a fraction of the speed it would take human workers. The goal is to quickly separate the qualifying applications from the mass of applicants so the CDFI can promptly assist those business owners before the program's year-end deadline.

Analytical Objectives:

Manual Effort and Error Reduction
Dramatically Increased Processing Speed
AI-Driven Data Extraction

For RISE Miami Dade Beacon Council, Cognistx built an AI rule engine to classify, categorize and analyze loan applications received by CDFIs, removing the tedious manual filtering of data within these applications. Our solution categorizes the loan application (Yes, Maybe, No) and identifies information needed, or inadequate. We used round-robin distribution for each of the CDFIs involved and calculated based on location and volume for each of the districts within Miami-Dade county to aid in equitable loan distribution.

100%

accuracy

5000+

loans processed

$25M

distributed to 2000 businesses

80%

loan processing time saved

case study

FINANCial AI

To identify risks associated with banks and mortgage companies, Fannie Mae needs to analyze their 10K filings, which usually takes several days for a single filing. Our tool allows them to identify, categorize and analyze these 10K filings in minutes by utilizing Artificial Intelligence, ensuring accuracy, reliability and robustness.

Analytical Objectives:

Risk Identification
Human Error Reduction
Workforce Efficiency

50M+

records
processed/year

1M+

risks identified

$10M+

dollars saved/year

40GB+

data processed/year

financial AI

Our Financial AI Products

Loan Automation & Underwriting

Customer 360° View

Product Cross-Selling

Customer Onboarding

Cognistx Automated Loan Underwriting

Financial AI Features and Benefits

Can Financial AI Help Your Company?