Regardless of loan size, financial institutions (FIs) have traditionally paid the same costs to target, qualify, and fund new customers. But now Lendio Intelligent Lending is enabling FIs to achieve this for far less—overcoming the traditional cost barriers to customer acquisition.
Providing capital to SMBs has traditionally meant stretching lending resources thin. But with Lendio Intelligent Lending, lending teams can multiply the effectiveness of resources, supercharge loan volume, and accelerate the delivery of capital to SMBs.
As economic conditions and borrower needs evolve, financial institutions (FIs) are under pressure to deliver great experiences at scale to stay competitive. In response, Lendio Intelligent Lending intelligently enables financial institutions to optimize borrower experience, drive customer loyalty, and gain a competitive advantage.
Traditionally, slim margins have steered financial institutions (FI) away from serving SMBs. But now, Lendio Intelligent Lending is enabling FIs to launch new products and tap into new revenue streams in previously cost-prohibitive markets.
Six hundred community banks funded $72B of small and medium business (SMB) loans in the fourth quarter of 2021 alone. Many more banks are struggling to fully tap into this market where demand for capital remains strong. However, with the right technology, financial institutions (FIs) can supercharge
their SMB business and drive profitable growth.
When it comes to accessing capital, small and medium businesses (SMBs) want and need the funds fast. To capture the business, lenders must deploy automation tools that
enable rapid response and accelerate offer generation and
While banks have been rushing to keep up with the digital revolution, another chasm has been building in the background for the past 30 years. The decline of community banks has created a lending gap among SMBs. The key for banks to capitalize on this opportunity is automation.
Traditionally, the loan underwriting process has been slow and clunky with multiple data sources and lots of paperwork to sort through. Lately, more and more lenders have adopted automated underwriting systems. Automated underwriting can be equally beneficial for SMB lenders.
Few, if any, would argue with the statement, “Customer experience matters.” Banks with great customer experiences have customers who are 1.9x more willing to recommend their services. Banks looking for a competitive advantage should consider the following five trends.
One could argue the entire underwriting process is about evaluating risk. Yet, manual underwriting processes make it expensive to evaluate a borrower. Technology presents new opportunities for banks to efficiently mitigate risk across three crucial areas: credit risk, financial crimes, and regulatory compliance.