CanadaFinance and insurance2018 – ongoingVancity
AI adjudication of small-business loans
JUDI.AI reported that Vancity members completed loan applications in 7–10 minutes and received instant decisions
Problem
Vancity's largely manual loan adjudication required paperwork and staff administration. Small-business owners spent time away from their businesses completing applications.
Approach
Vancity configured JUDI.AI's adjudication platform around its lending products and credit policies. It tested a standalone installation without integrations during a 6-month pilot, then gradually expanded access. JUDI.AI reported applications taking 7–10 minutes and instant decisions.
Results
Takeaway
The pilot tested member experience before integration with existing systems. Members declined for loans also reported satisfaction with receiving prompt decisions.
Categories
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Vendor solution
- Evidence
- Vendor case study
Sources
Source summaries
JUDI.AI described Vancity's pilot and gradual rollout of AI loan adjudication. It reported short applications and instant decisions, alongside positive feedback from members and staff.
Full details are in the original sources.
