PORTLAND, Maine -

Constant has a reason to cheer this week.

The fintech and automated loss mitigation provider received a 2020 AI TechAward, which celebrates technical innovation, adoption and reception in the artificial intelligence, machine learning and data science industries as well as the developer community.

Constant said it was selected from among hundreds of applicants to represent the AI industry’s best and brightest in the Consumer AI Technology category. The advisory board to the AI TechAwards selected Constant’s technology based on three criteria:

— Attracting notable attention and awareness in artificial intelligence, machine learning and data science industries

— General regard and use by the developer and engineering community

— Being a leader in its sector for innovation.

The company’s cloud-native, Sofware-as-a-Service platform leverages AI to help lenders drive down delinquency and default to keep families in their vehicles and homes. Its advanced automation can reduce dependence on manual review processes and legacy database.

The Constant+  platform also can provide lenders with a real-time view of a borrower’s financial situation through multiple data sources — avoiding credit blind spots — to determine their ability to pay and to present a sustainable relief option based on investor rules that can be accepted and signed all in minutes.

 “We’re very proud to receive this AI TechAward,” Constant chief executive officer Catherine York-Powers said in a news release. “It recognizes our continued commitment to building the most advanced, automated loss mitigation solution and a powerful suite of products that enable financial institutions to mitigate delinquency, expand loss savings and encourage borrower payment performance.

Thank you to the Constant team, our clients and investors for helping us to push the boundaries of this market,” York-Powers continued.

 The 2020 AI TechAwards will be presented next week at the 2020 AI TechAwards Ceremony during AI DevWorld Virtual, one of the largest artificial intelligence, machine learning and data science conferences with tracks covering NLP, open source AI, AI for the enterprise, deep AI, neural networks and more.

“Today’s cloud-based software and hardware increasingly runs on systems needing increased data and intelligence, and Constant's win here at the 2020 AI TechAwards is evidence of their leading role in the growth of the AI ecosystem,” said Jonathan Pasky, executive producer and co-founder of DevNetwork, producer of AI Dev World and the AI TechAwards.

Constant recently hosted a free webinar to discuss loss mitigation amid the coronavirus pandemic. A recording of that session can be seen here.