Enova unit OnDeck launches automated final-decisioning for small business loans
ENVA•OnDeck, part of Enova International, launched AI-enabled automated final-decisioning for small business loan applications. The capability aims to cut decisions for qualifying applicants from a few hours to under a minute.
1. Automated loan decisions
OnDeck launched AI-enabled verification and real-time final-decisioning for small business loan applications, expanding the capability from eligible existing customers to new applicants across channels. Eligible borrowers may receive stipulation-free approvals and move directly to funding; decisions remain subject to OnDeck’s existing underwriting standards and ongoing model monitoring.
