Launch cements Polly's position as mortgage tech pioneer in artificial intelligence, driving unmatched value and ROI in the capital markets vertical
SAN FRANCISCO, CA / ACCESSWIRE / May 7, 2024 / Polly, the leading provider of innovative mortgage capital markets technology, today unveiled its groundbreaking artificial intelligence (AI) platform, Polly/™ AI. Fueled by state-of-the-art AI/ML algorithms alongside Polly's proprietary technology and data, the launch introduces AI embedded directly within the company's next-generation Product and Pricing Engine (PPE), along with a copilot for loan officers. Polly's PPE is recognized as the mortgage industry's first cloud-native, commercially scalable engine. Its robust architecture and flexible back-end configuration deliver near-infinite configurability, granularity, and scalability. In another industry first, the company has pioneered the future of mortgage AI. Its first application: An interactive copilot for loan officers (LOs) that taps into the PPE's unrivaled depth to process, interpret, and recommend a range of outcome-driven results.
Polly/™ AI is currently in closed beta with a number of the nation's largest mortgage lenders. Early adopters have experienced a substantial boost in productivity as well as strong efficiency gains by combining the powers of AI and Polly into a united, easy-to-use natural language interface.
Highlights of the application include:
- Explained ineligibility: Understanding why a borrower is ineligible for a certain product, and what they can do to change that, can be a time-consuming and sometimes unattainable task for LOs. In another industry first, the AI-powered copilot can comprehend and articulate ineligibility data points, transforming complex mathematical and logic-based statements into easy-to-understand and actionable advice. Loan officers can use these recommendations to convert a loan from ineligible to eligible.
- Proactively examine near-miss eligibility and LLPAs: Not only does the copilot understand ineligibility, it will also proactively communicate what an LO can do to create a more favorable borrower outcome based on scenarios that may have otherwise been overlooked. Additionally, the copilot will proactively recommend strategies to optimize rates and prices, completing a dynamic evaluation of each scenario's parameters to enhance results. LOs experience significant time savings with this action-oriented intel, and are able to provide optimal service by homing in on each borrowers' best-case scenario.
- Identify product and pricing best fit: Gone are the days of lengthy and tedious form fill. With Polly/™ AI, LOs can use instant messaging or voice interaction to request best-fit product and pricing information to share with their borrowers, all drawn directly from the company's powerful engine.
- Seamless data capture: LOs can free-form text and easily converse with the AI tool from any device. It will also respond to voice interaction and use advanced Natural Language Processing (NLP) to streamline the LO experience and optimize and automate associated workflow efficiencies.
- 24/7/365 accessibility: Conveniently available via web application or mobile device, LOs can complete any workflow in a matter of seconds and collaborate with their AI-powered personal copilot at any time, no matter where they are. This enables them to step away from day-to-day administrative tasks and focus instead on establishing and building borrower relationships and ultimately, closing more deals.
Feedback from Polly's customers and notable industry leaders has been exceedingly positive.
Kristin Ankeny Bickenbach, EVP of Secondary Marketing at New American Funding, shared: "The phrase 'AI-powered' is being bandied around a lot these days, but Polly actually delivers. They have harnessed the power of NLP and artificial intelligence in a way that is actually applicable to today's modern mortgage lender and LO, creating a unique and sizable competitive advantage across our teams. We are convinced that Polly's AI platform will deliver incredible ROI and value to New American Funding."
Lyra Waggoner, Chief Information Officer at Movement Mortgage, added: "In today's market, our LOs have more on their plates than ever, so we're focused on delivering tools that will continue to differentiate them as trusted advisors to their clients for life. Innovations like Polly's LO copilot are a complete game-changer. They significantly reduce administrative work and make it as fast as possible to find the best product fit, so our LOs can pour their valuable time and attention into advising and retaining their clients. As they further expand their footprint in this space, we're excited to see how Polly's AI-powered services continue to evolve with features that serve the Movement Mortgage team from origination through capital markets."
A trusted pioneer of mortgage innovation, Polly will continue to invest heavily in R&D of its AI and machine learning capabilities to maximize customer ROI.
"Polly has a proven track record of innovation with intention," explained Adam Carmel, Founder and CEO of Polly. "We are in constant communication with leading AI companies and our customer partners as we continue to push the boundaries of what is possible in mortgage tech. We are thrilled to provide LOs another advancement that will transform how they do business and accelerate their wins. With Polly, LOs can work faster and smarter."
Carmel concluded, "Polly/™ AI and the LO copilot mark the next chapter in Polly's mission to pioneer and democratize the most cutting-edge technology available. We recognize the limitless possibilities of AI to transform our industry for the better, and are committed to delivering the innovations that drive value and ROI for mortgage lenders and borrowers alike."
As part of the company's ongoing commitment to operate secure and best‑in‑class mortgage technology, all Polly platform products are compliant with the internationally recognized auditing standard of System and Organization Controls (SOC) for Service Organizations designed by the American Institute of Certified Public Accountants (AICPA).
Polly will attend the 2024 MBA Secondary and Capital Markets Conference in New York, May 19-22. To learn more about how Polly continues to pioneer mortgage industry transformation, attendees are encouraged to schedule a meeting with the Polly team, attend the MBA Secondary Tech Showcase, or visit Polly in #MBASecondary24 booth 102.
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About Polly
Polly has revolutionized the mortgage industry with its modern, data-driven capital markets ecosystem. Banks, credit unions, and mortgage lenders nationwide trust Polly's Product and Pricing Engine (PPE), Loan Trading Exchange, actionable data and analytics, and advanced AI/ML to automate and optimize the entire capital markets value chain, helping their secondary teams operate faster, smarter, and more profitably. Polly was founded in 2019 by a seasoned team of technology and mortgage experts and is headquartered in San Francisco, California. To learn more, follow Polly on LinkedIn or visit www.polly.io.
Media Contact:
Samantha MacKendrick
Polly
[email protected]
415-212-8469
SOURCE: Polly