LoanSnap Joins NVIDIA Inception to Revolutionize Financial Health with AI

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Apr 24, 2024, 09:30 ET

SAN FRANCISCO, April 24, 2024 /PRNewswire/ -- LoanSnap today announced it has joined NVIDIA Inception, a program that nurtures startups revolutionizing industries with technological advancements.

LoanSnap is focused on helping consumers save money by using artificial intelligence to minimize debt with technology-driven methods that were previously too time- consuming to research and implement. The company saved its customers over $80 million last year. Its proprietary neural network and software, called LoanFlow, accomplished this feat by sorting through thousands of options for the customer within seconds and closing loans in as little as 24 hours while competitors take 50 days or more, according to a May 2023 CNBC report.

LoanSnap plans to use the resources available through NVIDIA Inception, including technological assistance and hardware access, to accelerate its LoanFlow product and find even more ways to help consumers save money. The program will also offer LoanSnap the opportunity to collaborate with industry-leading experts and other AI-driven organizations.

"We are excited to be welcomed to NVIDIA Inception and look forward to working with NVIDIA to accelerate our progress toward our goal of saving our customers $1 Billion per year."
— Karl Jacob, CEO and Co-founder of LoanSnap.

"With support from NVIDIA Inception, we're poised to unlock 30% more options for our customers to save money. These accolades aren't just progress; they're a testament to our dedication. LoanSnap's collaborations propel us towards a future where savings and technology converge seamlessly to benefit people."
— Allan Carroll, CTO and Co-founder of LoanSnap.

NVIDIA Inception helps startups during critical stages of product development, prototyping, and deployment. Every Inception member gets a custom set of ongoing benefits, such as NVIDIA Deep Learning Institute credits, preferred pricing on NVIDIA hardware and software, and technological assistance, which provides startups with the fundamental tools to help them grow.

LoanSnap is at the forefront of fintech innovation, dedicated to improving American financial health through advanced technology. The company specializes in SMART Loan solutions, offering personalized insights to empower consumers in their financial decisions. The company also created LoanFlow, which empowers mortgage companies and independent loan officers to offer SMART Loans to their customers. For more information, visit www.goloansnap.com. For press inquiries, please contact [email protected].

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SOURCE LoanSnap, Inc