"Instead of filling out long questionnaires, borrowers can upload documents such as pay stubs, W-2s and identification. The system's AI extracts and verifies the data, prepopulating applications with confirmed information. The new tool dovetails with Floify's March launch of Dynamic Apps, a feature that lets lenders customize loan applications based on loan type. Floify says the feature cuts down on manual data entry for loan officers and speeds up application completion."
"With Dynamic AI being built into Floify's existing POS system, lenders are able to use it without adopting a separate platform. The company says embedding AI directly in the POS helps reduce the number of systems borrowers and lenders must navigate, allowing documents and data to flow through one platform. That process can make pre-approvals faster and lessen the need for repetitive data entry."
Floify's Dynamic AI enables borrowers to upload pay stubs, W-2s and identification while the platform extracts, verifies and prepopulates application fields with confirmed data, reducing manual entry. The capability integrates with Dynamic Apps and is embedded in Floify's existing POS so lenders can use it without adopting a separate platform. Embedded AI reduces system fragmentation by routing documents and data through one platform and linking to LOS, CRM, pricing engines, underwriting, verification services and credit providers. The outcome is faster verifications, quicker pre-approvals—often same-day—less repetitive data entry and more loan officer time for client advising.
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