Karus AI wins 2023 Demo Challenge Best in Show

Fintech Karus AI took home the crown to win Best in Show on Friday at the Auto Finance Summit East demo challenge. The sixth annual demo challenge saw seven financial services and mobility startups showcase their products with auto lending and leasing executives. [caption id="attachment_58329470" align="aligncenter" width="1024"] Karus AI's CEO Aaron Travis presenting at AFS East, Photographer: The Point Media Co. [/caption] Founded in 2020, San Francisco-based Karus AI provides lenders with AI-powered underwriting and decision models as well as portfolio and credit-risk analytic tools to monitor performance for an end-to-end operating system, according to the company website. “What we’re excited for moving forward in the second half of 2023 is we’ll be taking learnings from our initial set of customers … to layer on additional functionalities to drill down further pain points that we can automate and streamline through an end-to-end platform,” James Harrison , co-founder and chief operating officer at Karus AI, told Auto Finance News. The company is continuing to build additional integration capabilities to deliver higher approval rates, higher booking rates, more accurate loan structures and better performing loans to help lenders build a healthier portfolio, co-founder and chief executive Aaron Travis , told AFN . The fintech is also integrating with more dealer management system (DMS) providers to enhance the software integration process, Harrison said. “We’re still in the process of integrating and trying to integrate with a handful of different DMS providers right now for a quicker and more seamless onboarding experience,” he said. “That way there ’ s no bottlenecks with different types of partners that we ’ re trying to launch with in the event that we are working as a vendor with their preferred D MS provider on the send- in .” Karus AI has secured three seed-funding rounds from early-stage investment fund StageDotO totaling $4.7 million since Jan. 1, 2021, according to Crunchbase . The 2023 challenge also featured tech demonstrations from Effective.AI , Fairplay.AI , Pave.dev , Ravin , RunBuggy and Zevvy . Karus AI follows the 2022 demo challenge winner, Folsom, Calif.-based EV finance fintech EV Life , which won for its use of EV incentives as down payments to make the EVs more affordable. Other past winners include Caribou , Remitter and Bloom . The Big Wheels Auto Finance Data 2023 report , the only tabulation of the top 200 auto lenders by outstandings , is available now.

Karus AI wins 2023 Demo Challenge Best in Show

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