New GenAI Features
Recent findings from Finastra indicate that 61% of financial institutions have adopted or improved their AI capabilities in the last year, a figure more than double what was observed in 2022. Among these advancements, the use of Generative Artificial Intelligence (GenAI) has seen significant growth, with 35% of institutions now leveraging it.
GenAI is increasingly valued by financial institutions for its ability to streamline processes and deliver faster results. Filogix, a component of Finastra’s mortgage software suite, now incorporates these new GenAI features alongside its existing AI-based automated lender note functionalities.
Enhanced Workflow Tools
Filogix Expert Pro has been designed to optimize workflow and centralize business operations for mortgage professionals. The latest additions include a chatbot feature that provides real-time answers, helping to reduce response times and enhance customer satisfaction. Additionally, document data extraction tools automatically pull key information from income statements and property listings, saving time and improving accuracy in data collection.
CRM-Supported Enhancements
The GenAI capabilities also extend to the CRM (Customer Relationship Management) aspect of the app. Automated email draft suggestions are available for borrowers, offering guidance on copy and tags when communicating through emails. Another feature summarizes important points from email exchanges, providing quick views to brokers. It further suggests relevant activities based on these exchanges.
