How AI Voice Calls Can Lift Loan Application Completions by 15%

Imagine a salaried professional who starts a personal loan application on their phone during a lunch break. They fill in a few details, get stuck on the income section, are not sure which documents to upload, and close the tab thinking, “I’ll finish this later.”​

This is extremely common: various studies show that more than half of people who start financial applications never finish them, mainly because the process feels long, confusing, or unsupported. AI voice calls step in exactly at this point, calling the applicant back, explaining what’s needed in simple language, and helping them complete the journey then and there.​

Why loan applications lose customers

Loan applications are usually designed for the lender’s process, not the borrower’s reality. Forms are long, full of jargon, and often split across several screens or channels. When people get stuck, they rarely get immediate help; support lines are busy, chatbots feel limited, and emails or SMS reminders are easy to ignore.​

This friction shows up as drop‑offs at key steps: income details, document upload, KYC verification, or signing an agreement. Without timely, human-like intervention, many of these partial applications never move forward, even though the borrowers are actually eligible and willing to borrow.​

How AI Voice Agents could be the answer

AI voice calls add a “human‑like” layer on top of your digital loan journey. Instead of waiting for applicants to come back on their own, the system can call them when it detects that they have stopped mid‑way. The voice agent greets them by name, mentions the specific loan they were working on, and offers simple help: “You left your application after the income step - can I guide you through it now?”​

During the call, the AI can explain terms, answer common questions, and confirm information like income, employer, or address, then push that data directly into the loan system. If a document is missing, it can send a link by SMS or WhatsApp, stay on the line while the user uploads it, and confirm once the step is done. When a case becomes complex, the AI can transfer the call to a human officer with all the context captured.​

How Lenders Can Use AI Voice Agents For Improved Conversions

Lenders using AI voice for loans are already seeing strong improvements in conversions and speed. Some report 35% better collections in a few months, 30-40% faster disbursement times, or 25-35% higher conversion in certain stages of the funnel. Others highlight a sharp drop in call abandonment when AI answers immediately instead of placing borrowers on hold.​

When current abandonment on loan applications can be 50% or more, even converting a portion of those lost applicants has a big impact. If targeted AI voice calls focus on the most common drop‑off points - like KYC, document upload, or final consent, a 15% increase in completed applications is a conservative, achievable number based on live deployments in lending and broader financial services.​

Why Murf Falcon is the right TTS model for Loan Servicing Voice Agents

All of this depends heavily on how good the voice sounds and how fast it responds. If there are long pauses or mispronounced amounts, people lose trust quickly - especially when money is involved.

Murf Falcon is built to avoid exactly these issues and to support real‑time, high‑stakes conversations such as loans.​

• Very fast responses: Falcon’s TTFA is 130ms, which makes calls feel natural and two‑way rather than robotic.​
• Benchmarks show Falcon at the top for speaking numbers, dates, and finance acronyms correctly, with a pronunciation accuracy of 99.38% - critical when reading out loan amounts, interest rates, EMIs, or due dates.​
• Multilingual and code‑mixed: Falcon is tuned for multilingual use cases and mixed sentences, which matches how real borrowers speak during loan discussions. (especially in countries like India)
• Supports high concurrency and low per‑minute costs, so lenders can run large reactivation and reminder campaigns without breaking unit economics.​
• Data Residency available in 10+ geographies, ensuring that data is stored in those respective countries, apt for fintech. 

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By combining well‑designed loan journeys with AI voice calls powered by Murf Falcon, lenders can turn many half‑finished forms into fully approved and disbursed loans - unlocking that 15% (or more) uplift in a way that feels simple and supportive for borrowers.