Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Search
Close this search box.
Algebrik AI Partners with Carleton to Elevate Lending Accuracy and Compliance

Algebrik AI Partners with Carleton to Elevate Lending Accuracy

Algebrik AI Inc., a Delaware-incorporated company headquartered in New York City, pioneering the world’s 1st cloud-native, AI-powered, digital-era Loan Origination Platform (LOS), announced a strategic partnership with Carleton, Inc., a leader in financial calculation and compliance solutions. This collaboration integrates Carleton’s robust payment calculation APIs into Algebrik’s cutting edge LOS platform, setting a new standard for accuracy, compliance, and operational efficiency in consumer lending.

Financial Technology InsightsKuCoin Settles With DOJ Focuses on Compliance and Growth

Empowering Fluid Lending Experience

Through this partnership, Algebrik AI will leverage the CarletonCalcs® Loan Origination and Compliance APIs to deliver:

  • Accurate Loan Calculations: Precise disclosure values, payment calculations, and credit insurance support tailored to diverse lending products.
  • Compliance at Scale: Real-time validation of loans against state and federal regulations, a critical feature for indirect and direct consumer lending.
  • Expanded Product Support: Seamless handling of loans across credit cards, home equity lines, auto loans, and more.

Pioneering Innovation in Lending

This partnership reflects Algebrik’s commitment to delivering a cloud-native, AI-powered, digital-era consumer lending platform that seamlessly supports direct and indirect lending. The collaboration ensures compliance across 1,000+ calculation methods, including credit insurance, disability, and GAP coverage, while adapting to lender-specific rules.

Financial Technology Insights: WTW Appoints Mark Mamone to Drive Growth in Insurance Tech

Leadership Perspectives

“Partnering with Carleton strengthens our ability to deliver a precise, compliant, and seamless experience for lenders,” said Pankaj Jain, Founder & CEO of Algebrik AI. “With Carleton’s advanced calculation and compliance capabilities embedded in Algebrik AI’s LOS, it is already fulfilling on its mission to deliver a unified lending platform to streamline processes across all stages of loan origination.”

Matt Ruszkowski, President & COO of Carleton, Inc. added, “Our partnership with Algebrik highlights the importance of accurate and compliant payment calculations in financial landscape. Together, we’re empowering lenders with tools to increase efficiency and build trust from borrowers, thereby enhancing the lending journey.”

Looking Ahead

Algebrik AI and Carleton’s collaboration signals a shared commitment to innovation in financial services. By combining Carleton’s state-of-the-art APIs with Algebrik’s cloud & AI-native architecture, the platform provides lenders with dynamic tools for product configuration, seamless borrower experiences, and automated compliance. This integration is designed to scale efficiently, allowing lenders to introduce new products with minimal effort while ensuring accuracy and compliance at every step of the lending journey.

Financial  Technology Insights: Collaboration between British Business Bank and LE Capital along with Paragon Bank

Source: PR Newswire

To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com

 

 

Share With
Contact Us
StatCounter - Free Web Tracker and Counter