Glossary of Terms

Introspective Customer Insights

Definition

Introspective Customer Insights refer to deep, AI-driven analytics that reveal borrower motivations, pain points, and engagement behaviors. Unlike traditional customer data, these insights focus on why borrowers act a certain way- helping lenders fine-tune their loan offerings and improve borrower experiences.

By leveraging machine learning and behavioral tracking, lenders can better understand borrower needs, identify credit-readiness trends, and optimize lending strategies.

Why is it important to SBA Lending

Lenders often lack visibility into borrower intent and struggles, leading to high drop-off rates and misaligned financial products. Introspective Customer Insights solve this by:

-Uncovering borrower friction points: Identifies what’s preventing applicants from completing the process.
-Enhancing loan readiness: Provides personalized financial recommendations to applicants.
-Improving customer retention: Helps lenders build long-term relationships with borrowers.
-Refining loan offerings: Aligns lending products with real borrower needs and behaviors.

What role does Parlay Play

Parlay analyzes borrower interactions to help lenders:
-Track applicant behavior in real-time: Understands engagement trends and drop-offs.
-Personalize lending experiences: Matches borrowers with the right financial products.
-Proactively address borrower needs: Uses AI-driven insights to improve customer success.
-Drive higher loan conversions: Optimizes application workflows to keep borrowers engaged.

Introspective Customer Insights empower lenders with a deeper understanding of borrower behaviors and needs. Parlay’s AI-driven approach ensures higher loan approval rates, improved borrower engagement, and long-term lending success.