British SME challenger bank Allica has begun live testing an end-to-end agentic AI system that takes an unstructured email loan application, assesses it and returns a credit decision within minutes, with no human in the loop.
Richard Davies explains:
„We recently put live what we believe is a market-first for commercial lending: an end-to-end agent that ingests an unstructured email loan request, checks it is complete (and if not sends an email back explaining the gaps), extracts and analyses the content, calls our decisioning engine, and returns a decision, which is then sent back by email. Start to finish, no human in the loop.
This is currently live with two of our largest broker firms (that don’t send us applications via API), covering around 10% of our email-submitted applications. In the initial production period, 50% of cases received were auto-decisioned end-to-end – with decisions returned in a mean of 12 minutes, the fastest in seven. The traditional SME lending experience measures that same journey in days or weeks. We are ramping to our wider broker population through the coming weeks.
There is still a huge way to go here for complex SME lending – to cover the end to end lifecycle, going into a full range of products. We have developed maybe 20-25% of what we see as the target – and I’m sure we will discover even more we can do as we build. We aim to create a global first here.„
More details: Scaling AI at Allica
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