Nivo launches Broker Concierge: transforming asset finance through AI

In a significant step forward for the asset finance industry, Nivo has launched Broker Concierge, an AI-powered solution designed to eliminate inefficiencies in broker-lender interactions.

Addressing the bottlenecks in asset finance

The inspiration for Broker Concierge stems from the heavy administrative burden faced by lenders and brokers. “Asset finance is bogged down by manual admin tasks, repetitive data entry, and chasing documents back and forth,” Mat explained. “Filling out the same information across multiple forms—whether portals, PDFs, or paper—significantly slows down the process. As a result, lenders who want to grow often have to hire more people just to manage the workload.”

The inefficiencies of traditional workflows mean that underwriters spend nearly 50% of their time on non-value-adding tasks. “If you solve that problem, you double the productivity,” Mat said, highlighting the transformative impact of automation.

Nivo’s mission: streamlining financial services

Nivo has always been about solving communication challenges within financial services. “From day one, our focus has been on secure and efficient communication—gathering information, verifying it, and ensuring it’s suitable for underwriting and payout decisions,” Mat noted. Over the years, Nivo has pioneered industry-first solutions like biometric ID verification, open banking, and single identity sharing, making financial transactions more seamless.

“AI elevates this mission to a completely new level and really turbo-charges it,” Mat said. Broker Concierge builds on Nivo’s existing foundation by automating and optimising lender-broker interactions, reducing delays, and improving accuracy.

What sets Broker Concierge apart?

According to Mat Elliott, Broker Concierge differentiates itself in two key ways: deep industry expertise and cutting-edge AI integration. “With over 100 lenders on our platform and a million borrowers served, we have unparalleled experience in the back-and-forth communication within asset finance,” he explained.

The AI breakthrough in Broker Concierge lies in its ability to process any form of input—PDFs, spreadsheets, emails, or screenshots—and map it to structured categories Nivo calls “shopping list items.” “AI doesn’t care what format the information is in—it just works its magic,” Mat stated. “It translates lender requests into structured data, ensuring that information is categorised, verified, and mapped to the right workflow.”

Moreover, Broker Concierge works within lenders’ existing systems without requiring extensive API integration. “If a lender still wants to use email, that’s fine. If they prefer a portal, that’s fine too. Our AI ensures both parties can stay in their preferred channels while we do the heavy lifting in the background.”

Real-world AI: training for specialist lending

Unlike generic AI solutions, Broker Concierge has been trained on real-world specialist lending workflows. “The challenge in asset finance is that no two deals are the same,” Mat explained. “Lenders rely on nuanced judgment, and our AI has been developed to capture these complexities.”

By working closely with underwriters and brokers, Nivo has built a system that understands:

• The diverse data formats used in asset finance, from ID verification to financial statements.
• The human nuances of lending decisions, incorporating the thought processes of experienced professionals.
• The need for cross-checking thousands of data points to ensure completeness and accuracy.

“The AI continuously learns and improves,” Mat added. “It’s designed as an assistant—supporting brokers and underwriters by removing drudgery, ensuring compliance, and improving speed.”

Security and compliance: meeting regulatory standards

Given the regulatory landscape in financial services, security is a cornerstone of Nivo’s platform. “We conduct thorough data privacy impact assessments to ensure compliance with FCA regulations and information security standards,” Mat emphasised.

Broker Concierge is also trained to follow strict compliance guidelines, such as broker fee disclosures and consumer duty obligations. “Our AI can ensure that all necessary declarations are made, providing lenders with an auditable trail that proves compliance.”

Immediate benefits for brokers and lenders

Adopting Broker Concierge yields tangible benefits:

• Productivity gains – “At least double productivity, often significantly more,” Mat stated. Lenders can scale their business without increasing headcount.
• Faster turnaround – Brokers receive near-instant responses, enhancing satisfaction and increasing deal flow.
• Happier staff – “People don’t enjoy repetitive admin work. Our solution lets them focus on higher-value tasks,” commented Mat.
• Lower risk – “AI ensures consistency and thoroughness in compliance checks, reducing human error,” he added.

For brokers, the ability to engage with lenders through their preferred channels—without re-entering information repeatedly—is a game-changer. “Brokers describe the experience as ‘exhilarating’ and ‘game-changing,’” Mat noted.

AI’s role in the workforce: complementing, not replacing

While AI’s impact on jobs remains a hot topic, Mat sees Broker Concierge as a complement to human teams rather than a replacement. “This is about freeing people from tedious admin so they can focus on relationships, complex underwriting, and advisory work,” he explained. “How exactly that balance plays out over time is something we’ll learn as adoption grows.”

Shifting attitudes toward AI in financial services

Reflecting on the industry’s evolution, Mat noted how attitudes toward AI have changed. “At the 2023 AFC UK Conference, there was curiosity but hesitation. By summer 2024, lenders were not just exploring AI—they were ready to deploy it commercially.”

Concerns about AI ‘hallucinations’ and security have been addressed through stringent safeguards and clear compliance frameworks. “Now, rather than fear, we’re seeing excitement about AI’s potential to drive efficiency and customer satisfaction.”

Challenges and lessons in developing Broker Concierge

Building a transformative AI solution was not, however, without hurdles. “The challenge with AI is that users expect it to work perfectly from day one,” Mat explained. “Unlike traditional software, where you can launch an MVP and iterate, AI needs to feel like magic immediately—or people won’t trust it.”

To achieve this, Nivo focused on ensuring Broker Concierge could handle every scenario seamlessly. “Null responses or ‘I don’t understand’ messages aren’t acceptable. We had to push our tech teams to create an experience that consistently exceeds expectations.”

What’s next for Nivo?

Looking ahead, Nivo plans to expand its AI-driven offerings for brokers. “Our next innovations will allow brokers to forward any lender email or PDF—and let AI handle the rest,” Mat revealed. “We’re also developing AI-powered borrower-facing solutions to streamline the fact-finding and onboarding process.”

With Broker Concierge now live, Nivo is poised to redefine the broker-lender dynamic in asset finance. “Imagine a world where every broker has a 24/7 assistant handling their admin instantly,” Mat envisioned. “That’s the future we’re building.”

As adoption grows, one thing is clear: AI isn’t just changing asset finance—it’s setting a new standard for how deals get done.