Online lead brokers match loan seekers to loan offers. Their function is to provide liquidity and to guide choice. In contrast with manual rules, AI and ML based matchmaking is particularly effective in this complex, data-rich environment. While AI and ML have become hyped buzzwords and are mirages in many domains, these technologies do provide real value for online loan leads brokers.
For lead brokers, a fundamental task is to estimate, with imperfect information, which lenders (or other lead brokers) most value a customer. AI is perfectly suited to help replace outdated intuitions and hunches and let the data speak objectively. AI for lead optimization can dramatically increase revenue while at the same time driving down operational costs.
AI can have its biggest impact in areas related to fraud, underwriting, and upselling / personalization. This is because AI and Machine Learning technologies and algorithms are fundamentally about extracting the most value from the information that we have, and excelling in these three areas depends on solving information asymmetries well.