Nivo report reveals hidden cost of wasted admin in asset finance
Nivo, the AI agents for lenders and brokers, has published a new market insights report showing how repeated admin, missing information and broker lender back and forth are costing specialist and asset finance teams hours on every case.
The Rework Problem is based on conversations with more than 70 lenders and brokers across the UK specialist lending market, alongside deployment data from Nivo’s AI platform. It points to one repeated issue: too much origination time is spent gathering, checking and chasing information and documents that should have arrived complete and right first time.
According to Nivo’s research, most firms in the sample reported right-first-time submission rates of 50% or below. That means a significant share of daily work is spent correcting incomplete information, chasing missing documents, clarifying requirements and rebuilding case packs before cases can progress.
For asset finance firms, the issue is particularly acute because cases often depend on several parties moving quickly: brokers, customers, suppliers, internal sales teams, credit teams and payout teams. Repeated requests for bank statements, proofs of income, ID, invoices, asset details and supporting evidence can slow decisions, delay payouts and increase the cost of originating business.
Nivo’s findings also show that a typical specialist lending or asset finance case can generate 15 to 20 message rounds, involve more than five people and require upwards of five hours of administration on the broker-to-lender leg alone. Between 20% and 50% of cases can also stall or fail to complete, with process friction often a bigger issue than underlying deal quality.
Nivo says the opportunity for lenders and brokers is to move the point of intervention earlier. Its AI agents work over email, 24/7, to gather information and documents, check what comes back, chase missing items and help produce packaged, checked cases for review.
In early deployments, Nivo says AI agents applied at intake and document collection stages have reduced administration by six to eight hours per case.
Matthew Elliott, co-founder and chief commercial officer at Nivo, said: “The biggest thing stopping brokers and lenders completing more deals is the admin work gathering, checking, and chasing information and documents. Our AI agents are a perfect fit for this work, taking it on 24/7 so teams can move more cases forward faster at lower cost.” The Rework Problem is available to download now at: https://whitepaper.nivohub.ai/