How are fintech companies using AI to speed up loan approvals?

Hi HN,

I’ve been researching how AI is transforming lending workflows in fintech.

Many banks still take days or even weeks to process loan approvals because of manual verification, risk analysis, and document validation.

Recently I came across tools like SimplAI that try to automate parts of this process using AI-driven decisioning and risk models.

Curious to know from the community:

• Are banks actually adopting AI for loan underwriting? • What are the biggest technical challenges? • Is explainability a problem when AI decides credit risk?

Would love to hear insights from people working in fintech or AI infrastructure.