Finova has announced the launch of Broker Assist, a new conversational AI agent designed to deliver a more seamless and efficient broker experience for users of the Finova lending platform.
Broker Assist will be powered by Covecta’s conversational AI agents, enabling users to access lender-specific policies and criteria in real-time through a fully authenticated experience without leaving their workflow. The new tool removes the need for context switching or manual document searches, helping brokers resolve queries faster and submit more complete borrower applications.
The launch follows Finova’s partnership announcement with Covecta in January and represents the first live deployment of agentic AI in Finova’s lender platform.
Unlike generic AI tools, Broker Assist uses pre-configured agents that understand how brokers and lenders work, allowing brokers to self-serve policy and criteria queries without needing to speak to the lender’s broker support teams. This built-in understanding enables the AI to provide more accurate, relevant and trusted responses for real-world lending workflows.
For brokers, Broker Assist delivers faster access to information, clearer and more comprehensive policy guidance, and a more intuitive portal experience, helping them better serve borrower needs and identify the most appropriate lending solutions.
For lenders, Broker Assist supports increased application conversion, reduced rework for underwriting teams, and a reduction in call and email volumes to broker support and contact centres. By improving application quality at source, lenders can streamline origination processes while accelerating innovation across their broker networks.
The launch of Broker Assist marks the first of many investments to support Finova’s broader AI and innovation strategy. In the future, the firm will continue to embed intelligent automation across the lending lifecycle to improve efficiency, resilience and customer experience.
Rowan Clayton, Chief Product Officer at Finova, said:
“Broker Assist is about removing friction from the broker journey. Gone are the days of slow application times and costly rework. By putting conversational AI directly inside the Finova broker portal, we’re helping brokers get the answers they need faster, submit better-quality applications, and ultimately deliver better outcomes for borrowers.
“This is a great example of how we’re turning emerging technology into real, production-ready capability for lenders and brokers. In the coming months, we will continue to dedicate time and resource to streamlining and improving every aspect of the broker experience.”
Scott Wilson, Founder and CEO at Covecta, added:
“This launch shows what’s possible when agentic AI is deployed within workflows. Broker Assist gives brokers instant, trusted access to lender-specific knowledge, while helping lenders reduce operational burden and improve conversion. We’re excited to see this capability live within Finova’s platform.”
