New GenAI Features
According to a recent survey by Finastra, 61% of financial institutions have recently adopted or improved AI capabilities, with this number doubling from the previous year. The incorporation of GenAI is notably increasing, as 35% of these institutions are now utilizing it. This underscores the rapid evolution of GenAI technology and its expanding applications in various sectors.
GenAI has gained traction across industries for its value proposition to customers and their clients, as highlighted by Filogix. These technologies can significantly reduce the need for manual data entry, save time, and accelerate service delivery. The new GenAI features are being introduced alongside existing AI-based automated lender note functionalities within Filogix Expert Pro.
Enhanced Workflow with GenAI
Filogix Expert Pro has been designed to streamline mortgage processes and centralize business operations, aiming to provide a better customer experience and faster funding deals. The new capabilities include the integration of a chatbot that can offer real-time answers to users’ queries about Expert Pro, thereby reducing response times and boosting customer satisfaction.
Document Processing and Email Support
Another feature is automated data extraction from key documents such as income statements and property listings, which helps in saving time and enhancing the accuracy of data collection. The GenAI capabilities also extend to creating email drafts for borrowers within the Customer Relationship Management (CRM) component of the app. These emails offer suggestions on copy, tags, and other relevant content when brokers interact with their clients via email.
Finally, there is an email summarization tool that provides quick overviews of important points discussed between the broker and client, along with suggested activities based on email exchanges.