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Figure Technology Solutions Unveils OpenAI-Powered "Stare and Compare" Killer

Author

Slice of Finance Team
04 Oct

Key Highlights:

  • Figure’s AI tool eliminates manual errors in loan processing, improving speed and accuracy.

  • Reduces document review labor by 93%, lowering costs and bottlenecks in the mortgage process.

  • $8M cost savings expected by combining AI-powered document review and customer service tools.

  • Boosts NPS score to 80, with a 100% YoY increase in 5-star reviews on processing speed.

  • Figure's AI is embedded in 120+ lending partners, transforming the mortgage ecosystem.

Notable Quotes:

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“We’ve yet to find a lender who doesn’t want to reduce bias, lower costs, and eliminate manual work… Now, thanks to AI, a technology leader like Figure is even more well positioned to help lenders solve for these big pain points.”

Nicole Beaulieu, Chief Technology Officer at Figure Technology Solutions
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“We consider our AI our lending partners’ AI… by lowering loan processing costs, we’re lowering our product costs and thereby housing costs broadly.”

Michael Tannenbaum, Chief Executive Officer at Figure Technology Solutions

Our Take:

Figure’s latest release showcases how AI can disrupt traditional processes, particularly in industries like mortgage lending that have historically been slow to adopt innovation. By reducing the need for manual document reviews, Figure has dramatically cut down on human error, improved customer satisfaction, and eliminated costly bottlenecks. The use of AI in financial services is accelerating, and Figure is positioned at the forefront, helping lenders save millions while setting a new industry standard for efficiency and transparency. This step aligns with the broader AI-driven shift in financial services, underscoring the potential for technology to drive both cost savings and consumer value.