At Nimo, we take a practical and open-minded approach to AI. We’ve tested its role in lending automation across different workflows, some using AI agents and others built on SaaS platforms with APIs. What we’ve found, time and again, is that while there’s no one-size-fits-all solution, SaaS platforms are emerging as the clear winner when you factor in total cost of ownership, productivity, and customer experience.
Let’s break it down with a real-world example:
- We tested a system that used AI agents to log in, populate fields, and retrieve information. The process took around 30 seconds per action
- In comparison, a system with built-in APIs completed the same automation instantly, making for a faster, smoother experience.
Why Speed is Important in Modern Lending
Speed and efficiency are non-negotiable in lending. While 30 seconds might not seem like much in isolation, it’s a noticeable delay for both staff and customers. Now, multiply that across tens of thousands of loans, and the impact on productivity, service levels, and overall business efficiency becomes undeniable.
In today’s market, lenders are under increasing pressure to do more with less—cutting costs, improving customer experience, and maintaining compliance without adding complexity. AI-driven automation might seem like the answer, but if AI agents are working in isolation, they often create more friction than efficiency.
By contrast, SaaS platforms are built for full workflow automation, ensuring seamless connectivity across the entire lending process. Instead of patching together multiple AI tools, lenders need a unified, scalable solution that streamlines operations from start to finish.
When Should You Be Thinking About SaaS versus AI Agents?
This discussion is especially relevant if you:
- Rely on outdated systems that require heavy manual intervention.
- Spend significant resources maintaining multiple AI agents.
- Struggle with workflow bottlenecks due to system silos.
- Want a scalable solution that grows with your business, not against it.
If any of the above apply, it’s time to rethink your automation strategy.
AI Agents vs SaaS Platforms in the Real World
We’ve seen firsthand how lenders struggle with AI tools that automate tasks but fail to integrate into the bigger picture.
For example:
- An AI-powered chatbot may answer customer queries, but if the application process still requires manual follow-ups, it’s only solving half the problem.
- AI can extract data from documents, but if it doesn’t seamlessly feed into underwriting workflows, you’ll still need manual intervention.
On the other hand, a well-structured SaaS platform connects every stage of the lending process, removing unnecessary friction and improving overall efficiency.
Are There Times When AI Agents Make Sense?
Yes, AI agents have their place, particularly for:
- Customer service – AI-powered chatbots that enhance customer interactions.
- Data processing – Automating document classification, fraud detection, or analytics.
- Niche automation tasks – Handling very specific functions within a larger system.
However, they shouldn’t be relied upon as a standalone automation strategy. AI is at its best when it works within a SaaS platform, not outside of it.
The Challenges of Choosing SaaS Over AI Agents
Switching to a modern SaaS platform is an investment, and with any investment comes challenges. The most common roadblocks we’ve seen include:
- Legacy system dependencies – Integrating SaaS with older, clunkier tech can be tricky.
- Internal resistance to change – Teams that are used to manual processes may push back.
- Misinformation – The belief that AI agents alone can fully automate lending when, in reality, they can’t.
While these challenges are valid, they are far outweighed by the long-term benefits of a SaaS-first approach—scalability, reliability, and cost efficiency.
Can AI Agents and SaaS Platforms Work Together?
Absolutely—when used strategically. AI works best as an enhancement to SaaS, not a replacement. It can:
- Automate repetitive tasks like document processing.
- Improve customer experience via AI-powered self-service.
- Enhance analytics with predictive insights.
But it should never be used as a workaround for poor system design. AI is a tool—not the entire solution.
How Can You Know If Switching to SaaS Is the Right Call?
To assess whether a SaaS platform makes sense for your organisation, ask:
- What’s the total cost of ownership?
- Does switching to SaaS outweigh the ongoing costs of maintaining AI agents on legacy systems?
- How much downtime can you afford?
- AI agents don’t automatically adapt to system updates, meaning they can break without warning when updates occur. This leads to unexpected downtime, costly emergency fixes, and a drain on resources, disrupting operations and impacting productivity.
- Are your staff spending too much time manually fixing or monitoring AI automation?
- How does this impact the customer experience?
- Is the process seamless, or are there frustrating delays caused by disconnected AI workflows?
- What are the long-term maintenance costs?
- AI bots require constant updates—whereas SaaS platforms include maintenance in the monthly fee.
If these questions reveal gaps in efficiency, SaaS is the better choice.
AI Agents vs. SaaS Platforms: A Side-by-Side Comparison
| Pain Point | AI Agents | Automated SaaS Platforms |
| Maintaining Compliance | Requires extra compliance tools, adding complexity. | Built-in compliance features ensure audit readiness. |
| Efficiency at Scale | Struggles with multi-step workflows, requiring multiple agents. | Handles high-volume workflows natively, no external dependencies. |
| Increasing IT Overheads | Needs ongoing maintenance and reconfigurations. | Fully managed by the SaaS provider—lower IT costs. |
| Integrating with Core Systems | Custom integration needed for each system. | Pre-built APIs ensure seamless connectivity. |
| Managing Fragmented Tech Stacks | Creates automation silos that need manual intervention. | Provides a centralised, automated solution. |
Final Thoughts
AI agents have a role in lending automation, but they aren’t a replacement for a fully integrated SaaS platform.
If you are aiming for long-term scalability, efficiency, and seamless automation, SaaS provides a future-proof foundation. The key is choosing technology that aligns with business needs—delivering real, sustainable value instead of short-term automation band-aids.
If you’re looking for a SaaS platform to supercharge your lending, Chat with us today.