Vine Financial secured seed funding for its commercial lending accelerator platform for banks and credit unions.
The platform utilizes artificial intelligence (AI) tools to streamline commercial lending processes.
The funding will support Vine's growth and platform expansion into commercial real estate and agriculture lending.
Neeraj Vohra, from Bankers Helping Bankers Fund, praised Vine's innovative approach to commercial lending.
Vine finalized its board of directors with industry leaders to drive transformation in commercial lending.
AI integration in banking is on the rise, with a report highlighting its various applications, including fraud detection and customer onboarding automation.
Zest AI also introduced a tool for AI-powered lending decisions, providing in-depth borrower behavior insights.
IBC Bank partnered with Finanta to enhance its commercial lending capabilities through a FinTech platform.