Algebrik AI Inc., a pioneering New York-based company, has announced the appointment of Jesse Frugé as Vice President of Product Management. Known for developing the world’s first cloud-native and AI-powered Loan Origination Platform (LOS), Algebrik is set to revolutionize lending technology for mid-tier banks and credit unions.
Addressing Industry Challenges
Founded by industry veteran Pankaj Jain, Algebrik is focused on overcoming the challenges faced by financial institutions struggling with high customer acquisition costs. Many of these issues stem from broken omnichannel journeys and outdated manual processes. Algebrik’s innovative platform leverages cutting-edge AI technology to streamline the loan origination process, offering faster, more accurate, and personalized lending experiences.
Leadership Insights
“We are excited to welcome Jesse Frugé to Algebrik AI as we drive innovation through AI, cloud, digital, and automation in lending technology,” stated Pankaj Jain, Founder & CEO of Algebrik. “With over 13 years of experience in financial services and fintech, Jesse has originated over $100 million in new loans. His previous role as Product Manager at Fiserv equipped him with a deep understanding of financial services and a strong track record in growth and transformation, making him an ideal fit to lead our product management. His contributions will be pivotal in expanding our reach and delivering cutting-edge solutions to our clients.”
Jesse Frugé’s Vision
Commenting on his new role, Jesse Frugé expressed enthusiasm: “To say I am excited to join Algebrik AI is an understatement. Getting the opportunity to be part of the first cloud-native and AI-powered digital-era Loan Origination Platform (LOS) presents a unique challenge. We will leverage our talent, industry knowledge, and ability to deliver functionality in a way that makes applicants and loan officers happy.”
With Jesse Frugé’s appointment, Algebrik AI is poised to enhance its product offerings and continue its mission to transform the loan origination landscape through innovative technology. As the company grows, it remains committed to addressing the needs of financial institutions and improving the lending experience for customers.