Reflecting on our AI Thought Leader Spotlight with areal

From Tom Morelli, Wilqo’s Head of Data and Marketing

Coming out of our latest webcast featuring Argun Kilic, CEO of areal, I find myself energized by the thoughtfulness of the conversation around AI in lending.  We tackled some of the most pressing concerns facing lenders today and explored how technology, when applied effectively, can streamline operations, improve accuracy, and ultimately drive profitability.  Here are my two biggest takeaways from our discussion:

1. AI is Here to Support, Not Replace

One of the most common concerns about AI adoption is the fear that automation will replace jobs.  But as Argun pointed out, the real goal isn’t to remove human expertise, it’s to enhance it.  AI, just like any other type of automation, is best utilized when taking over repetitive, mundane tasks.  This allows operations staff to focus on the work that requires critical thinking and nuanced decision-making aligning with their expertise.  The extra capacity gained can then be used for upskilling or cross-training.

When implemented correctly, AI becomes a tool that makes lending teams more efficient, not obsolete.

2. Profitability Comes from Measurable Efficiency Gains

The discussion on lender profitability was the highlight of the webcast. Argun hit on a critical element that is often overlooked: you can decrease your costs if you are able to increase the throughput of your system. If you can take on more loans with the same staff, that cost per loan has now decreased.

Every conversation we have at Wilqo comes back to this topic: “how does this feature enable lenders to become more efficient?”

In Summary

The willingness to adopt change is going to determine the winners in this industry.  With proper planning and care there are myriad rewards to reap.

If you missed the discussion, I highly encourage you to check out the replay in our youtube channel linked below.