SMART-LOAN: AI-Powered Multi-Modal Systems fo...

SMART-LOAN: AI-Powered Multi-Modal Systems for Streamlined Loan Processing and Risk Prediction

Author Name : Nikhil Kassetty, Er Apoorva Jain

ABSTRACT In today’s dynamic financial landscape, traditional loan processing and risk evaluation methods face mounting challenges due to increasing application volumes and data complexity. SMART-LOAN is an innovative, AIpowered multi-modal framework designed to transform conventional loan assessment practices. By integrating diverse data sources such as numerical financial records, textual borrower information, and visual documents, the system employs advanced machine learning algorithms, deep neural networks, and natural language processing techniques to construct comprehensive risk profiles for applicants. This holistic approach enables SMART-LOAN to enhance creditworthiness evaluation, detect fraudulent activities, and streamline decisionmaking processes while reducing manual intervention and operational costs. Extensive testing on real-world datasets reveals that the framework delivers superior prediction accuracy and processing speed compared to traditional methods.