Janover Inc JNVR said that following the AI implementation, over the last quarter, it has more than doubled the number of unique credit box updates, a key metric it uses to gauge first-party data provided by lenders on the loans they are originating and, in the sales pipeline, as well as terms and structure.
The AI significantly aided in achieving a 133% increase in first-party data updates from Q2.
In July 2023, Janover launched its generative AI application designed to directly engage commercial property lenders nationwide and provide them with support with onboarding, demo setup, and collecting unique credit terms and data from the commercial loan originators working at those institutions.
Janover is an AI-enabled B2B fintech marketplace connecting commercial property borrowers and lenders.
The AI application provides customer service via email, text, chat, and voice interaction, supporting complicated B2B transactions.
In terms of marketplace activity during the quarter ended September 30, 2023, the company saw a 24% sequential increase in originator sign-ups (on behalf of commercial lenders) on the Janover platform, compared to the previous quarter.
Approximately 9% of all banks in the U.S. have now registered on the company’s platform.
Blake Janover commented, “We aim to own the world’s largest first-party data set of U.S.-based commercial lenders and originators, along with their preferences.”
Price Action: JNVR shares closed at $1.04 on Wednesday.
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