Glossary of Terms

Intelligent Conversions

Definition

Intelligent Conversions refer to the AI-driven process of optimizing loan applicant engagement and increasing completed applications through data-driven insights and automation. In the context of SBA lending, this means transforming potential borrowers into approved applicants by eliminating friction points in the loan application process.

Unlike traditional conversion strategies, which rely on static forms and manual follow-ups, Intelligent Conversions leverage behavioral analytics, automated guidance, and predictive decisioning to improve application completion rates.

Why is it important to SBA Lending

Many small business loan applications are abandoned due to complex paperwork, unclear eligibility requirements, or long processing times. Intelligent Conversions solve this by:
-Reducing application abandonment with AI-powered nudges and real-time guidance help borrowers complete applications.
-Increasing approval rates by identifying and nurturing applicants who are close to qualifying.
-Optimizing user experience by simplifying documentation collection and eligibility checks.
-Boosting lender profitability because of the increased volume of qualified loan applications without additional manual effort.

What role does Parlay Play

Parlay’s AI-driven Intelligent Conversions system helps community banks and credit unions:
-Automate applicant engagement: Uses real-time behavioral tracking to re-engage applicants.
-Identify drop-off points: Detects where users abandon the process and proactively removes barriers.
-Improve pre-qualification accuracy: Ensures applicants receive personalized loan eligibility insights.
-Enhance loan readiness: Guides borrowers to strengthen financials before reapplying.

Intelligent Conversions revolutionize SBA lending by increasing application completion rates and lender efficiency. Parlay’s AI-powered solution ensures borrowers are guided, nurtured, and approved faster—unlocking more capital access for small businesses.

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