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UMB Financial Corporation Becomes First Bank to Deploy Intain's Verification Agent; Activates Key Module of Administration Service for Structured Finance
Intain Augments Admin Service with Verification Agent, Employing Artificial Intelligence for Large-Volume Automated Loan Processing to Substantially Reduce
About this update from Umb Financial Corporation
[{"type":"text","content":"Intain Augments Admin Service with Verification Agent, Employing Artificial Intelligence for Large-Volume Automated Loan Processing to Substantially Reduce Potential Errors\nNEW YORK, May 24, 2022 /PRNewswire/ -- Intain Inc., a leading blockchain-enabled structured finance platform for issuers and investors to connect in an efficient, secure and trusted way, announced today the availability of a verification agent module for its Intain Admin platform for integrated and seamless administration of structured finance. The addition of a verification agent provides an automated function for large-volume review and processing of loans and other assets by artificial intelligence (AI), substantially reducing errors, lowering costs and speeding up processing times of complex structured finance administration, which has traditionally been facilitated by manual processing.\nUMB Financial Corporation is the first customer to activate Intain's verification agent module, enabling substantially more efficient comparison and validation of loan attributes and certificate generation. Intain's verification agent provides accuracy and efficiency through an automated, AI-driven and seamless end-to-end platform. This enables financial institutions to more skillfully service transactions in the structured finance market. The software can increase institutions' potential to become the preferred resource for warehousing verified loan pools as collateral agent and gain additional business as Trustee should these loans be pooled into a securitization.\n\"Intain is helping financial institutions discover the benefits of blockchain, not because it sounds sexy but because our blockchain and automated AI services help companies become more efficient, more accurate and more trusting of their processes, enabling them to grow and increase business engagement and their ability to help more customers,\" said Siddhartha, Founder and CEO of Intain. \"Blockchain in financial services has reached an inflection point where traditional financial institutions not only see the technology's benefits but also are investigating and beginning to consider its adoption. We've maintained our conservative and pioneering approach, well within financial regulations, and are perfectly positioned to perform as the de facto administrative platform and trust layer for structured financ...