Live Oak Ventures Invests in Cascading AI for Loan Automation
Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Cascading AI, Inc., a platform that automates loan applications using responsible artificial intelligence, announced in a press release. This strategic investment aims to enhance Live Oak Bank's loan processes by automating its Express loan process and expanding the use of Cascading AI across its franchise.
Cascading AI plans to utilize the funding to scale its operations, expand its team, and accelerate its go-to-market efforts. The platform is designed to simplify and speed up the loan application and origination process, providing insights that help build lasting customer relationships. This investment reflects Live Oak Bank's commitment to providing a modern approach to lending, leveraging technology to improve efficiency and customer experience.
We hope you enjoyed this article.
Consider subscribing to one of our newsletters like AI Funding Brief, Finance AI Weekly or Daily AI Brief.
Also, consider following us on social media:
More from: Funding
More from: Finance
Subscribe to AI Funding Brief
Whitepaper
Governing the Future: A Strategic Framework for AI Adoption in Financial Institutions
This whitepaper explores the transformative impact of artificial intelligence on the financial industry, focusing on the governance challenges and regulatory demands faced by banks. It provides a strategic framework for AI adoption, emphasizing the importance of a unified AI approach to streamline compliance and reduce operational costs. The document offers actionable insights and expert recommendations for banks with fewer than 2,000 employees to become leaders in compliant, customer-centric AI.
Read more