Polly Cuts Mortgage Platform Setup to Four to Six Weeks
Polly claims its new AI reduces mortgage platform setup time from months to weeks, automating complex configuration tasks.
Key points
- Polly claims its new AI reduces mortgage platform setup from months to four to six weeks.
- The system automates 80% of setup before contract signing and validates the platform by day 24.
- Polly holds granted U.S. patents for its agentic AI framework, with more applications pending.
San Francisco fintech Polly announced on Wednesday that it is expanding its AI tools for mortgage capital markets. The company says this new process allows lenders to go live in four to six weeks.
This speed is a significant shift from the industry standard. HousingWire notes that traditional setup processes often take several months on average. The new system aims to cut down on manual work for lending teams.
Automating the Setup Process
The expansion uses what Polly calls agentic AI. This type of artificial intelligence can perform specific tasks independently. It now handles every stage of the platform, from pricing to settlement.
The process begins with a program called Polly Jumpstart. This pre-signature phase completes about 80% of the platform setup. Lenders can start using the system before they even sign a contract.
After signing, the system moves to a production-ready environment quickly. By the 11th day, the AI has created a full set of scenarios. By day 24, the platform is validated and ready for live use.
Patented Technology and Future Plans
The U.S. Patent and Trademark Office has granted Polly patents for this framework. There are also additional patent applications currently pending. This legal recognition highlights the company's focus on proprietary technology.
Polly states it continues to invest in applied AI research. New capabilities are expected to roll out in the coming weeks. The goal is to further reduce reliance on manual processes in mortgage workflows.
Trade-offs for Lenders
The main benefit is speed and reduced manual labor. Consultants can focus on strategy rather than basic configuration. However, this relies heavily on automated systems handling complex scenarios.
Lenders must trust that the AI accurately maps their specific business needs. While the timeline is shorter, the depth of customization depends on the initial data provided. The system aims to balance speed with accurate, best-practice outcomes.
