Finova is launching Broker Assist, a new conversational AI agent.
Broker Assist is powered by Covecta’s conversational AI agents, enabling users to access lender-specific policies and criteria in real-time.
The new tool removes the need for context switching or manual document searches, helping brokers resolve queries faster and submit more complete borrower applications.
Unlike generic AI tools, Broker Assist uses pre-configured agents that understand how brokers and lenders work, allowing brokers to self-serve policy and criteria queries without needing to speak to the lender’s broker support teams.
It’s claimed that this built-in understanding enables the AI to provide more accurate, relevant and trusted responses for real-world lending workflows.
For brokers, Broker Assist delivers faster access to information, clearer and more comprehensive policy guidance, and a more intuitive portal experience.
For lenders, Broker Assist supports increased application conversion, reduced rework for underwriting teams, and a reduction in call and email volumes to broker support and contact centres.
The launch of Broker Assist marks the first of many investments to support Finova’s broader AI and innovation strategy. In the future, the firm will continue to embed intelligent automation across the lending lifecycle to improve efficiency, resilience and customer experience.
A spokesperson says: “Gone are the days of slow application times and costly rework.
“By putting conversational AI directly inside the Finova broker portal, we’re helping brokers get the answers they need faster, submit better-quality applications, and ultimately deliver better outcomes for borrowers.
“This is a great example of how we’re turning emerging technology into real, production-ready capability for lenders and brokers.
