AmFirst funds 50 indirect auto loans in four hours with Saris
For the head of consumer lending operations at a regional bank
Saris, which describes itself as an agentic workflow platform for banks and credit unions, said in a press release datelined San Francisco that AmFirst Federal Credit Union is using Saris to automate indirect auto loan document validation; the release says "today" and gives no calendar date.1
According to the press release, AmFirst adopted Saris after record indirect lending volumes put pressure on its funding team, whose employees spent much of each day comparing vehicle identification numbers, borrower information and other details across loan documents.1 The release says leadership wanted a way to handle rising demand without adding staffing costs that would remain when auto lending volumes declined.1
The release says Saris agents cross-check required fields across loan documents and system records against AmFirst's policies, and flag exceptions with source citations so employees can investigate discrepancies.1
The agents work within the credit union's existing lending workflow, and AmFirst employees retain authority over every final funding decision, according to the release.1
The release says per-deal processing time fell by approximately 75% to approximately four minutes for AmFirst's fastest funder, who completed and funded 50 loans in four hours, against her previous best full-day output of 45. The release describes one employee's result and gives no figure for the wider team.1
AmFirst, which has $2.7 billion in assets, is targeting funding turnaround times of 60-90 minutes from deal receipt, the release says; it did not give a date for reaching that target or say what turnaround is today.1
The agent checks documents and a person still approves each funding, so model risk and compliance teams have a narrower function to review than an automated lending decision. The 50-loan result comes from one employee and the company's own release, so treat it as a best case rather than a team average when sizing capacity gains.
Our take. A $2.7 billion credit union's best funder now clears a dealer deal in about four minutes, aiming for 60-90 minute turnaround. If your funders still match VINs by eye, dealers will notice before your budget does.
Action. Model risk: Classify document-validation agents with human funding signoff as checking tools, and set tests for missed VIN and borrower-data mismatches.