The Intermediary – February 2025 - Flipbook - Page 73
T E C H N O L O GY
Opinion
Automation:
The future of
specialist lending
T
he specialist lending
sector stands at a pivotal
moment. Brokers
are grappling with
rising administrative
demands, constantly
shiing compliance standards, and
growing client expectations, and
the need for innovation has never
been greater.
At its core, specialist lending is built
on relationships, trust, and accuracy.
However, outdated manual processes
have long hindered brokers’ ability to
deliver seamless and efficient services.
The future of specialist lending lies
in leveraging artificial intelligence
(AI) to streamline processes, reduce
manual workloads, and ultimately
improve outcomes for brokers and
clients alike.
A game-changer
Automation is no longer a buzzword,
it’s a necessity in today’s fast-paced
financial environment. Our recent
partnership with Y3S, a leading
specialist loan broker, exemplifies
how automation can redefine the
way brokers operate by addressing
key pain points such as biometric
identity verification (IDV), antimoney laundering (AML) checks, and
document processing.
In specialist lending, where the
stakes are high, these tasks can
no longer rely solely on manual
intervention. These processes demand
not only accuracy, but also significant
time and resources, which can be
tackled head-on by automating key
tasks that were once labour-intensive,
error-prone, and slow.
With automated AI technology,
brokers can complete tasks that
once took hours in just minutes. For
example, our system extracts and
verifies essential information from
documents such as bank statements,
payslips and tax returns with
unmatched precision. The results
speak for themselves: faster decisionmaking, greater accuracy, and
significantly reduced administrative
burdens, freeing brokers to focus
on building trust with clients and
offering personalised financial advice.
.
Building trust
In an industry as tightly regulated
as financial services, compliance
isn’t just box-ticking – it’s a core
responsibility. However, keeping
up with ever-changing regulations
can overwhelm even the most
experienced brokers. By automating
processes, verification can be
conducted consistently and accurately,
mitigating the risk of human error
and fraud.
The ability to offer an automated,
secure, and compliant workflow
has become a vital differentiator in
specialist lending. With heightened
regulatory scrutiny, brokers need
solutions that not only keep them
compliant, but do so without
sacrificing efficiency.
Trust is certainly the cornerstone of
any broker-client relationship. Clients
expect brokers to safeguard their
sensitive information while providing
sound financial guidance.
Innovation
No single organisation can drive
industry-wide change alone – it
requires partnerships that combine
technological expertise with realworld experience.
Barney Drake, CEO of Y3S,
encapsulated this shared mission
perfectly: “At Y3S, safeguarding our
brokers and their clients is a top
priority. Our partnership with Sikoia
demonstrates our dedication to staying
ALEXIS ROG
is CEO and founder at Sikoia
ahead of the curve in fraud prevention
and compliance, giving brokers
greater confidence in the solutions
we offer.”
This serves as a model for how
fintech innovation can drive
meaningful change in a traditionally
slow-moving sector, and what’s
possible when expertise meets cuingedge technology.
An automated future
Looking ahead, the future of specialist
lending will be defined by automation.
Our vision at Sikoia is clear: we aim
to lead the industry into a new era
where manual tasks are minimised,
compliance becomes seamless, and
brokers can focus on delivering
exceptional client service.
We foresee a time when brokers no
longer see regulatory requirements as
obstacles, but as automated processes
working silently in the background.
Administrative tasks won’t detract
from client engagement, but will
enhance it, thanks to intuitive, AIdriven solutions.
Brokers who adopt these
technologies will gain a competitive
edge, providing faster, more accurate
services with more time to build
meaningful relationships.
There’s more work to be done. By
embracing automation, brokers can
not only meet rising demands but
exceed client expectations, seing a
new standard for the industry.
Brokers and financial institutions
seeking to streamline their workflows,
enhance compliance, and deliver
beer outcomes, will be the ones
helping shape the future of specialist
lending – one automated process
at a time. ●
February 2025 | The Intermediary
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