Frequently, commercial and corporate loans remain on legacy platforms due to the time and expense associated with switching platforms. The fear of conversion leads many institutions to maintain the status quo of loan operations. And for good reason: the history of technology conversions is rife with over budget and delayed conversions.
But AI and agentic processes have changed the landscape. LoanStreet CLS conversions and implementations leverage AI and agentic processes to dramatically lower conversion time and switching costs. What historically took months of work can now be completed almost instantaneously by AI agents — loans are boarded, payment histories are validated, data is normalized — all by a series of specialty agents that not only perform the work but surface discrepancies and can even resolve common errors in legacy systems.
The results speak for themselves — LoanStreet CLS frequently converts entire commercial and corporate lending portfolios, including some of the most complex private credit arrangements, into the LoanStreet platform in days with the platform ready to parallel process against the legacy system or platform almost immediately.
Improved loan servicing and agency is not only about reducing the labor and expense of servicing complex loans at scale – it’s also about a better borrower experience and improved portfolio management. Better access to information and more agentic processes enable humans to focus on what matters.