Parlay provides an AI-powered Loan Intelligence System designed to streamline small business lending operations for financial institutions. The platform automates data verification and gathers required financial information through API integrations for efficient pre-vetting. This results in increased loan throughput and significantly reduced manual workload for both lenders and applicants across various loan products.
Funding
$9.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Community banks and credit unions face challenges in efficiently processing small business loan applications, leading to low approval rates. Many potentially eligible small businesses struggle to present complete and compelling loan packets, hindering their access to capital. Underwriting processes often lack real-time data and insights, making it difficult to quickly assess applicant readiness and maximize the eligible applicant pool.
Solution
Parlay Protocol offers an AI-powered Loan Intelligence System (LIS) designed to enhance loan origination for community banks and credit unions. The platform complements existing Loan Origination Systems by providing real-time applicant scoring and tailored readiness insights. Parlay's applicant portal helps small businesses rapidly generate accurate and complete loan requests. By leveraging real-time data feeds and proprietary algorithms, Parlay scores applicant eligibility and provides personalized recommendations to improve creditworthiness. The system also offers pipeline analytics and a lender dashboard, empowering loan officers to monitor applicant progress and improve operational efficiency.
Target Audience
Parlay Protocol targets community banks and credit unions seeking to increase small business loan approvals and improve underwriting efficiency, as well as small businesses applying for loans.
Features
- User-friendly applicant portal for building complete loan packets
- Real-time data feeds and proprietary algorithms for applicant scoring
- Recommendation engine providing tailored insights to improve applicant creditworthiness
- Pipeline analytics and lender dashboard for monitoring applicant progress
- Automated pre-screening to identify prime, marginal, and ineligible candidate pools
- Applicant drilldowns providing key ratios, industry averages, and loan readiness in real-time
- White-labeling options for financial institutions to offer the platform under their own brand