Customer compilation
What Lenders Say About Kaaj: AI Underwriting Customer Stories
Chapters
Transcript
What each customer said on camera, by chapter. Captions are lightly corrected for product and company names.
Full transcript
Harbour Capital: 4–8 hours → 2–3 minutes
Your turnaround time's, you know, probably, I don't even know what factor faster. It's just way faster. I mean, we get our apps and data into our system in two to three minutes, or as we were waiting, you know, four or five, sometimes up to eight hours before. So super helpful for that, really. It was a timing thing is really the key.
Quality Equipment Finance: 15 minutes → 2
Yeah, I'd say it frees up a lot of time for the sales reps. It's really just being more efficient with your time, allowing you to focus more on revenue producing activities, such as outbound calls to brokers and customers focusing on deals that are already approved rather than spending time inputting deals, looking up SOS listings and inputting a NAICS code, finding out the correct NAICS code. So it's really just how efficient it is on time saving of what would take us maybe 15 minutes is now just a matter of a couple minutes. And when you're a sales rep getting maybe 20 apps a day, those extra 10 minutes saved, it adds up.
Eagle Crusher: statement analysis in minutes
The spreadsheet analysis, like the bank statement analysis and the financial statement analysis, which usually took us hours to do, is in a matter of minutes. Like I said, that's just on full financials deals. That takes us literally no time at all to review them. We still have to go through and look at them, of course, but it reduces an hour to two hours worth of work on that and on full financial deals. Regarding the write-ups, it saves, again, so much time that we can go out and get other business and not have to add another person to the overhead.
Hub Funding Solutions: stuck deals 60–70% → ~10%
I can do percentages and so we really don't have stuck deals anymore, I mean it went from probably 60 to 70% stuck to like 10%. So it's, it's been a dramatic change.
Finance Pros Inc: three days → seconds
I've been able to add teammates because of the system. I don't think I would have been able to do that, which of course helps us with our growth, right? More people working under the same umbrella, more revenue for the company. So I think that's one of the things I like the most for the return on investment. Obviously my time is worth something. So one file that could take me three days to figure out is done in a matter of seconds. Now I can do more files in one day, right? And spend more time marketing instead of in the nitty-gritty.
The Funding Booth: consistency on every app
So, if you can replace that with consistency and, you know, everything about Kaaj is consistent, right, you know, in five minutes, you're going to get the decision. Whereas if you have a human behind the scenes making the decision, or, you know, processing the application, it may not be five minutes, maybe they're busy doing something, you know, Kaaj has the ability to to process multiple apps at once. And it's just, you know, it's a consistent model that shows up every day to work, you know, it's never sick, like, you know, those things make a difference.
i90 Financial: a faster yes, and a faster no
Because I have the philosophy that I'd rather give a no faster than take forever to give a no. Because, you know, I think if you're excited, right, that you're going to get this piece of equipment, you're whoever referred to a dealer broker, they'd rather know quickly from us that it's a no, or at the same time, obviously the positive, that it's a yes, that we're interested in the deal. But it's definitely helped a lot.
Capital Solutions Providers: lean into AI
In general, if you're not leaning into AI, you're going to lose, in my opinion. And especially with that much data points that our package, our credit package, maybe 35 to 40, 40 pages, and it's able to go through that and pick out the particular data points we need. Versus a human in it, so when you talk about thousands and thousands of loans, I mean, you can't do that. There's tons of mistakes. There's tons of risk problems and all the above, and it just helps me sleep at night
