04 December 2023

How automation in B2B underwriting is revolutionising business lending

Written By FinTech Alliance

How automation in B2B underwriting is revolutionising business lending

Taktile’s CEO Maik Taro Wehmeyer discussed how automated decision engines are transforming the lending space 

In brief:

- Taktile, a low-code/no-code platform that harnesses data and AI to empower credit and risk teams to make safer and smarter risk decisions 

- One of the reasons why automation is possible is because we have a lot more data sources available now, and especially digitised data sources.

- A big challenge is how can you navigate human-in-the-loop [a model that requires human interaction] into actions with high automation rates.

What does this mean?

"I think in 2024 one of the biggest trends will be the use of AI to increase automation rates. My point of view is that large language models will not be able to increase the direct risk assessment because they are trained on public data on the public internet, and the public internet has not seen defaults for B2B lenders. However, these large language models are very, very powerful when it comes to creating more data, which can be used for better risk assessment, in turn increasing automation rates", says CEO Maik Taro Wehmeyer.

Read more here

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