New name truly reflects company’s ability to deliver faster decisioning and reduced risk in lending by providing a holistic and 360-degree picture of a borrower
NEW YORK, June 23, 2022 – SoftWorks AI, the leader in lending intelligence, today launched an extensive rebrand, including changing its name to TRUE. The new name reflects the company’s unique ability to give lenders a true picture of a borrower by using AI to inspect and audit every data point when verifying a loan and its underlying documentation. By providing deeper, more comprehensive, and more accurate insights on borrowers, TRUE allows lenders to gain market share by enabling faster turn times and reducing risk.
TRUE’s new name and logo demonstrate how the company harnesses the power of AI to turn lending – especially in the mortgage space – into a near real-time experience. While other vendors need humans in the loop to get data right, TRUE’s platform accurately analyzes every data point in a loan package automatically. TRUE’s technology can reduce manual reviews by up to 85% and has increased underwriter productivity by up to 300%.
The lending industry has long been focused on automation, with an end-state goal of touchless automation. This can only be achieved with lending intelligence, which uses AI to ensure all data going into the automation process is 100% correct and verify that every extrapolated insight is accurate and provably true. The TRUE brand is focused on using cutting-edge technology to find what is true, a process the company calls Lending Intelligence.
“TRUE uses AI to help lenders address customers’ most important expectations – speed, accuracy and reduced risk,” said Ari Gross, CEO of TRUE. “We are an AI lab focused executively on the lending sector and our AI platform is fully trained to address the challenges and nuances of lending. TRUE optimizes every step of the lending cycle, efficiently delivering critical information so our clients can get a full picture of their risk exposure. By providing a fast, thorough, and explainable analysis of every last data point, we reduce errors and improve decisioning, powering trustworthy lending.”
TRUE is transforming both the primary and secondary lending markets with technology that reads documents chronologically and holistically, going far beyond generic data classification that misses important details and nuances – and results in costly bad decisions. By ensuring that loan documents tell a consistent and coherent story and that all documents are cross-validated, TRUE enables lenders to get a holistic view of lending risk while delivering greater certainty to customers. The company currently serves major institutions from across the lending industry including Rocket Mortgage, Carrington, and 50% of the top mortgage insurers. TRUE processes millions of loans and billions of documents through its AI powered lending technology annually.
TRUE is a software solutions company and AI lab that helps lenders harness the power of artificial intelligence to make accurately informed underwriting decisions – increasing revenue while reducing operating costs and risk. Since 2017, it has set the industry standard for intelligent lending technology, delivering results that provide a true competitive advantage. Learn more at www.true.ai.