Integrations

Summary:
Develop an AI-powered chat bot within LendingWise to provide users with instant access to loan data, visual analytics, and industry comparisons, powered by OpenAI’s advanced natural language understanding.

Description:
This feature introduces an intelligent chat bot integrated into the LendingWise platform, capable of understanding and analyzing loan data to answer user queries and generate actionable insights. The AI bot will help users efficiently interact with their loan database and access key metrics and reports without manually navigating through dashboards.

Key capabilities of the AI Chat Bot could include:

Visual Data Reporting:

Generate visual reports such as line graphs, bar charts, or pie charts for metrics like the number of closed loans year-to-date, monthly trends, or performance comparisons over multiple periods.
Example Query: “Show a line graph of the number of closed loans YTD.”
Operational Insights:

Calculate metrics like the average time to close loans based on custom loan statuses.
Example Query: “What’s our average time to close once loan status = ‘application started’?”
Industry Comparisons:

Use OpenAI’s intelligence to contextualize internal data with industry benchmarks such as average interest rates, closing times, or approval rates.
Example Query: “Are our fix & flip interest rates above or below the national average?”
Advanced Loan Queries:

Filter and extract detailed information about loans, borrowers, or lending trends.
Example Query: “List all loans closed in the last quarter with closing times shorter than 30 days.”
Proactive Insights:

Notify users about anomalies, trends, or opportunities, like loans taking longer to close or underperforming portfolios.
Why This Is Valuable:

Efficiency: Reduces time spent searching for and generating reports by allowing users to ask questions in natural language.
Enhanced Decision-Making: Provides actionable insights and benchmarks to guide strategic decisions.
User-Friendly: Intuitive for users who may not be familiar with advanced data analysis tools.
Competitive Edge: Offering an AI-powered solution positions LendingWise as a cutting-edge platform in the lending space.