Amount Unveils AI Policy Optimizer for Lenders

Empowers lenders to customize credit underwriting strategies with artificial intelligence

CHICAGO--(BUSINESS WIRE)--Amount, a leader in consumer and small business deposit and loan origination software solutions, today announced its new Artificial Intelligence (AI) Policy Optimizer, designed to revolutionize credit, pricing, and fraud policy management for lenders of all sizes. This tool empowers lenders to create optimal policies by leveraging AI to simulate scenarios that align with their strategic goals, all while minimizing overhead and enabling credit teams to efficiently analyze and implement changes in a compliant manner.

Financial institutions are increasingly looking to expand their use of AI, according to a 2024 report by Cornerstone Advisors. The percentage of banks planning to invest and/or implement generative AI is forecast to more than double—from 6% who have already invested or deployed it, to 14%, in 2024. Amount’s AI Policy Optimizer provides lenders with advanced AI power to simulate various policy outcomes based on their unique data and selected goals. The tool offers precise insights tailored to lenders’ strategic priorities, like increasing approval rates and offer acceptances, reducing fraud escalation, and improving credit performance.

Amount’s AI Policy Optimizer has the unique ability to generate personalized recommendations using the lender’s own application and performance data. By automating the development of multiple policy scenarios, the tool allows credit teams to shift their focus from manual data modeling to high-level strategy. This streamlines policy optimization, freeing up valuable resources while ensuring that policies are not only data-driven but also compliant with regulatory requirements. The result is a more efficient way for lenders to refine their credit, pricing, and fraud policies — all while maintaining a sharp focus on their unique business objectives.

Additional capabilities of Amount’s AI Policy Optimizer include:

• Tailored Optimization Goals: Lenders can customize the optimizer to focus on specific business objectives, selecting from a range of predefined targets that align with their organizational strategies.
• Bespoke Recommendations: Leverages a lender’s proprietary data and application history to generate tailored insights, reducing reliance on generic market trends. This personalized approach captures the idiosyncrasies of your customer or member base.
• Full Transparency and Auditability: Operates behind the scenes and never makes automatic changes on behalf of lenders. All recommendations are clear, linked to specific data points, and must undergo established review processes and release procedures to ensure compliance with regulatory standards.
• Seamless Integration within Amount's Unified Account Opening and Lending Platform: The optimized lending policies can be effortlessly published to Amount’s Unified platform, enabling a smooth transition from analysis to implementation.
• Efficiency and Resource Optimization: The tool significantly reduces the time and resources required for credit policy optimization, traditionally managed by teams of skilled data scientists and analysts.

"Amount is dedicated to pushing the boundaries of innovation in the lending industry," said Adam Hughes, CEO, Amount. "Our AI Policy Optimizer exemplifies our commitment to providing lenders with state-of-the-art tools that enhance their decision-making processes, optimize their operations, and ultimately, drive their success. The tool enhances the efficiency of our clients’ existing teams, enabling them to optimize existing programs to balance scale and compliance with profitability and succeed in a highly competitive marketplace."

For more information about the AI Policy Optimizer, visit www.amount.com.

About Amount
Amount is a global digital origination and decisioning SaaS platform powering high-velocity consumer and SMB origination for financial institutions. Developed by lending industry experts, Amount helps banks and credit unions drive profitability and achieve a performance advantage with a fully integrated and flexible platform underpinned by enterprise bank-grade infrastructure and compliance – enabling financial institutions to deliver new and differentiated offerings within months, not years. With Amount, banks and credit unions can optimize performance across product categories while tapping into various service offerings including customer acquisition, funnel and performance assessments, and risk analytics. Amount clients include financial institutions collectively managing just over $3.1T in US assets and servicing more than 50 million U.S. consumers. Visit www.amount.com for more information.