Loan Application Completion AI Agent

What it does

• The AI Agent proactively recovers abandoned loan applications by reaching out to prospects, identifying the reason for the drop-off, and helping them complete the application process.

How it works

1. If a loan application remains incomplete for longer than a predefined period, the AI Agent automatically contacts the prospect via WhatsApp using their registered phone number.
2. Outbound WhatsApp communication is initiated using approved Meta message templates.
3. The AI Agent explains that the application is still open, invites the prospect to continue, and offers assistance in completing the application.
4. During the conversation, the AI Agent identifies the blocker, such as a confusing step, a missing document, a verification failure, or simply a lack of time.
5. If the prospect can share a screenshot of the application screen where they encountered the problem, the AI Agent analyzes the image, identifies the issue, and provides precise guidance.
6. The AI Agent guides the prospect step by step until the blocker is resolved and the application is completed.
7. If human assistance is required, the conversation is seamlessly transferred to a human agent, who receives the complete WhatsApp conversation history together with an AI-generated summary of the interaction.

Result

• +6% increase in completed credit card applications among users who experienced problems.

• Approximately 30% of users who abandoned their applications respond when proactively contacted by the AI Agent.