In a recent survey of 150 private credit firms, conducted by Armentum Partners and Lumonic, the majority reported still running on Excel. Technology adoption has been slow:

• Only 5% have integrated AI into underwriting or loan management
• Just 10% use third-party tools for underwriting or portfolio management

Underlying the slow adoption are three key barriers: a desire for all-in-one solutions, skepticism about AI accuracy, and a conservative culture viewing early adoption as risky.

Download the report to read more on what's working and where the industry is headed.