Leveraging technology can help enhance user experience and offer seamless services. In a recent campaign, WeLend has demonstrated how to use AI to address customers' painpoints and offer a better experience.
The campaign's tagline "Infinite A.I., seamless experience" explains the strength of WeLend's services. Powered by AI, its loan product focuses on three key areas, namely personalised quotation and accurate approval; the income and address proof waiving model; and instant cash delivery.
WeLend has set itself apart from other lending companies and banks through the adoption of fintech, utilising AI documentation screening and verification tools in a human-led, machine-assisted approach.
The entire application process has been streamlined, introducing unique features such as waiving the cumbersome need to submit address proof and/or income proof during the application process, which is typically a staple requirement from market peers. Through the use of WeLend’s proprietary AI solutions, big data and machine learning, WeLend is able to evaluate customers’ financial health and status, offering a competitive and precise loan offer and quotation for customers. The entire process, from filling in the application form, approval to cash disbursement, takes as little as an hour.
WeLend’s general manager Marco Lee points to the accelerated digitisation by the pandemic. He said, “We’ve already seen the market start embracing online financial services. Customers’ mindset and financial needs evolved when they experienced the benefits brought by tech-enabled features.”
“We’ve outperformed our competitors and gained more than 70% of loans when the economy is on a downward spiral. Our strategy of using AI-led solutions has been proven to be successful,” added Lee.
Seeing the robust popularity of previous campaigns, WeLend continues to feature Malaysian celebrity Lin Min Chen, who has been working with WeLend for six years. In the ad, Lin becomes AI MinChen – a way to make AI more tangible by humanising and visualising it with emotions.