Parlay Finance and First Internet Bank Join Forces to Modernize SBA Lending

AI-native Loan Intelligence System (LIS) to deliver faster decisions and enhanced borrower experience.

WASHINGTON, Oct. 16, 2025 /PRNewswire/ -- Parlay Finance announced today a partnership with First Internet Bank to deploy its AI-native Loan Intelligence System (LIS). The move allows the bank's Small Business Administration (SBA) lending operations team to eliminate manual tasks and gain deeper insights for loan decisioning.

The partnership addresses a critical industry challenge. Amid surging SBA demand, lenders require technology to scale operations efficiently without sacrificing the relationship-first approach and rigorous underwriting that define small business lending. With the implementation of Parlay, First Internet Bank is able to process significantly higher application volumes with its existing team, while delivering well-informed decisions and a transformed borrower experience. The bank anticipates up to a 50% increase in efficiencies throughout the lending process.

Partnership Delivers Immediate Results

Parlay's LIS combines AI with tailored automation to streamline intake complexity. Borrowers can submit an inquiry and quickly receive real-time insights on their business health, application status and next steps. Behind the scenes, the platform handles work that used to consume operational hours per application – capturing user-permissioned data, cross-referencing financial statements, validating documents and building an AI-powered analysis for the lending team.

Unlike traditional loan origination systems that simply record transactions, Parlay's LIS captures specific decision-making patterns, building institutional intelligence that can be scaled across organizations.

"Partnering with Parlay has allowed us to reclaim hours once spent on manual data entry and repetitive tasks," said Nicole Lorch, President and Chief Operating Officer of First Internet Bank. "Now, our team has more time to focus on what matters most - better serving our customers and deepening relationships."

"Parlay integrated seamlessly into our tech stack, instantly boosting data quality and workflow efficiency," added Craig Fortner, Senior Vice President and Chief Information Officer at First Internet Bank. "It's the latest example of how we're leveraging innovative solutions to better serve our clients and empower our team."

Parlay's system delivers:

• Real-time customer onboarding and guidance that improves submission speed and accuracy
• Intelligent information validation across data sources, including credit bureaus, financial statements, tax records and incorporation documents
• Faster, more informed decisions through AI-powered analysis that accelerates pre-vetting and deal structuring
• Institutional lending intelligence that captures and scales First Internet Bank's unique expertise

"First Internet Bank pioneered branchless banking in 1999. Now they're showing the industry how AI strengthens relationship banking and enables lenders to serve far more small businesses," said Alex McLeod, Founder and Chief Executive Officer of Parlay Finance. "By moving first, First Internet Bank is building institutional lending intelligence and securing a competitive advantage that grows stronger with every single loan."

For more information about Parlay and its Loan Intelligence System, please visit parlay.finance. To learn more about First Internet Bank, please visit firstib.com.

About Parlay Finance

Parlay Finance's AI-native Loan Intelligence System revolutionizes SBA and small business loan intake. Designed to complement existing technologies like Loan Origination Systems and core banking systems, Parlay enables lenders to expand capital access, increase loan volume, and improve efficiency and profitability while preserving strong credit quality.

About First Internet Bank

First Internet Bank opened for business in 1999 as an industry pioneer in the branchless

delivery of banking services. With assets of $6.1 Billion as of June 30, 2025, the Bank provides consumer and small business deposits, consumer loans and specialty finance services nationally. The Bank also offers commercial real estate loans, commercial and industrial loans, SBA financing and treasury management services. Additional information about the Bank, including its products and services, is available at firstib.com. The Bank is a wholly-owned subsidiary of First Internet Bancorp (Nasdaq: INBK). First Internet Bank is a Member, FDIC.

Contact Information
Media for Parlay Finance:
Jay Long
[email protected]

First Internet Bank Investor Relations:
Paula Deemer
Director of Corporate Administration
(317) 428-4628
[email protected]

Media for First Internet Bank:
PANBlast for First Internet Bank
Ryan Hecker
[email protected]

SOURCE Parlay Finance