Embedded business finance platform Liberis has launched a proprietary AI underwriting agent built to boost accuracy and slash decision times.
Called Ada after programming pioneer Ada Lovelace, the agent is designed to eliminate repetitive manual tasks and accelerate funding decisions for businesses.
It ingests and analyses financial, compliance, and digital footprint data in real-time, automatically surfaces key risk factors, trends, and anomalies to support human underwriters.
Liberis has been using AI for years and 85% of its financing decisions are already automated. However, manual underwriters are used for more complex cases. In those scenarios, underwriting accounts for nearly half of application processing time.
Ada tackles these inefficiencies by automating data analysis across multiple sources including open banking data, Companies House records, credit bureau information, and digital footprint indicators.
This, projects the firm, will deliver a 50% reduction in manual decision time for complex cases, while improving accuracy by correcting for human bias and blind spots.
"Ada’s value goes far beyond just time savings. As humans, we all have biases and blind spots. Ada helps us uncover those. It flags what we might have missed and brings those risks to the surface, improves fairness, and helps us learn from past decisions," says Rob Straathof, CEO, Liberis.