Wilmington, N.C., September 14, 2023 – Lumos Technologies (Lumos), an innovative small business data analytics and advisory company has announced the launch of a new product that will revolutionize small business lending with automated intelligence and machine learning.
“The Lumos Business Report will help financial institutions to streamline their small business lending process, improve operational efficiency, effectively manage risk, and increase profitability,” said Brett Caines, CEO of Lumos Technologies. “This innovative solution harnesses the capabilities of artificial intelligence and machine learning to provide valuable insights and automation for small business lending.”
With just a few relevant data points for a single loan opportunity, financial institutions can generate the Lumos Business Report and the Lumos Qualification Grade in seconds, without any privacy concerns. Financial institutions can optimize processes with intelligent data extraction and automation, manage risk with actionable insights, ensure consistency in decision making, enhance their team with augmented intelligence, and increase profitability with efficiency, loan growth, and risk-informed pricing.
“We are offering two products in one comprehensive package: the Lumos Business Report and the Qualification Grade. The Lumos Business Report employs a natural language interface to access, locate, and retrieve information from both Lumos’ proprietary datasets and publicly available sources,” said Youri Nelson, CTO of Lumos Technologies. “The Qualification Grade provides users with a predicted probability of default, loss given default, and expected loss for a small business loan. This grade can be obtained either as a stand-alone product or as part of the Lumos Business Financing Report.”
The Lumos Business Report and Qualification Grade are built from public domain data and Lumos’ proprietary small business dataset of meticulously curated loan performance data for 2 million businesses spanning 3 decades, combined with economic data at the county, state, and national levels.
About Lumos Technologies
Lumos is an industry-disrupting data analytics company delivering actionable insights, advisory services, and AI-driven technologies with safety and soundness in mind. Backed by expert financial literacy, Lumos provides financial institutions with standardized and automated metrics, powerful decisioning models, and efficient processes with rich, curated data and decades of financial institution literacy at the heart of it all. To learn more about Lumos, visit http://www.lumosdata.com