At the center of the company’s AI efforts is a proprietary platform that runs off more than 90 customized machine learning models. Constructed around a flexible and vendor-agnostic architecture, the system leverages a mix of Figure’s own generative AI programs and models from providers such as Google and OpenAI.
The company’s marketing department uses the platform for customer prospecting, “with the intent of putting the right message in front of the right person at the exact right time,” Padron explains. And in terms of client services, “it’s behind almost everything, from document processing to direct-to-customer interactions.”
Lengthy legal documents that typically took agents up to 30 minutes to process are now completed with generative AI in less than six seconds with over 99.5% accuracy. Chatbots are available to provide real-time assistance to anyone struggling with applications online, and voice AI is used to automatically call and help customers who’ve started the process but failed to finish.
DIVE DEEPER: Get help breaking down financial services data silos.
Figure turned to Google Gemini, OpenAI, and other selected third-party solutions for its AI-powered chatbot in part because of the highly regulated environment in which the company operates, Padron notes. The solutions comply with its policy of zero data retention, and integrate with Figure’s established data security measures to prevent unauthorized access to customer information.
Padron adds that his team is now exploring how new AI models might be used for other business needs in the future. “In terms of what’s possible when we deploy AI responsibly, I think we’re only starting to recognize the positive impact it can have on customers,” he says. “We’re doing a lot with these technologies now, but I really believe we’re just scratching the surface.”
Why Generative AI Is a CX Catalyst in Finance
While it’s true that financial services companies such as Figure are still in the early stages of using AI to elevate customer experience (CX), many in the sector — like those in other industries — say they’ve already seen meaningful returns from their deployments.
One 2025 survey from Forrester Research asked senior leaders at more than 900 companies how their organization had been positively impacted by AI in the past 12 months. Respondents reported the technology had improved automated processes and employee productivity, and that the top external benefit involved improved CX. IT executives told the firm they were using AI to enable customer self-service, improve efficiency of customer-facing employees and conceive new customer experiences.
Forrester’s Kate Leggett, vice president and principal analyst for customer relationship management and customer service, says that insurers GEICO and AXA are just two examples of companies that have deployed AI-driven chatbots to great success.
UP NEXT: Why a tech partner can guide financial services towards foward-thinking solutions.
“They’ll find your documents, answer questions about coverage, and learn and adapt to what you need,” she says. “They’re reducing wait times and freeing up human agents to focus on the more complex cases.”
Robin Gareiss, CEO and principal analyst at Metrigy, agrees with Leggett that generative AI is quickly transforming how businesses interact with customers. And while Metrigy’s own research reveals AI-driven improvements in important CX metrics such as customer satisfaction, it’s also found the technology is helping companies generate revenue and cut costs.
“When your agents are more efficient, they’re saving time, which means you may not have to hire as many new agents,” Gareiss explains. Likewise, as AI helps representatives solve customer problems faster, “maybe now, you start to find more time and opportunities for upselling.”
