JUDI.AI is a Vancouver-based loan platform that is powered by artificial intelligence. During the COVID-19 crisis, the fintech company proves to be quite useful as it assists financial institutions with the online applications for the Canada Emergency Business Account (CEBA), allowing for the more "nimble and rapid deployment of loans."
This digital solution has "processed $150 million worth of CEBA funds, and has assisted with thousands of applications." The program began being rolled out in April. Part of the government's Business Credit Availability Program (BCAP), CEBA allows financial institutions to make interest-free credit facilities of up to $40,000 available to eligible businesses.
This automation of the process is of much help to companies who are affected by the COVID-19 pandemic and rely on such benefits to help sustain their operations.
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