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Mobile Apps for Lending: What Makes Them Tick?

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

Read time: 3 minutes, 45 seconds. Automated loan underwriting is a significant time saver for lenders.  But it really does manage only one step in a potentially lengthy review process for a complete loan file. The processing of a loan file begins with collecting, organizing and verifying loan information. Lenders of all types are discovering that one way to streamline ...
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Features to Look for in Lending Software

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

5 Minutes Read. Lending software that automates loan underwriting can greatly reduce friction points in the lending process. The benefits of faster, more efficient processing, however, should not compromise sound lending guidance. Software can reduce underwriting to an automated process according to pre-set guidelines, but there may be areas where automated underwriting is insufficient. Lenders must balance process optimization with ...
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Commercial Vehicle Lending in the Digital Age

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

 4 Minutes Read. Commercial vehicle lending is embracing digital technology at a quickening pace, but loan underwriting is still largely carried out using conventional, non-automated methods. The aggressive push to expand auto lending by some big banks, however, along with the introduction of new channels such as direct lending, may help to drive greater automation. The commercial vehicle lending landscape ...
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Can Automated Underwriting Help Your SBA Loan Clients?

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

 4 Minutes Read. Loans guaranteed by the Small Business Administration (SBA) are a valuable source of capital for many growing businesses. Small business lending software can now help lenders make their SBA lending faster, more customer-friendly and more profitable than ever before. A brief overview of SBA lending The U.S. Small Business Administration works with lenders to provide loans to ...
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A Speedy And Hassle-Free MCA Lending

In Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

 4 Minutes Read. Merchant cash advance or MCA lending is a popular financing option to traditional loans for small businesses. For lenders, however, the MCA lending process requires more work and can take longer than processing conventional loans. Automated underwriting platforms such as the system offered by MonJa can help streamline the MCA lending process and improve productivity. How MCA Lending ...
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Technological Solutions For Credit Unions

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

8 Minutes Read. Credit unions have typically been slower to adopt new fintech solutions than other financial institutions, but that is changing. 2018 was a great year for innovation in the finance space, with technology making processes faster, more productive, and more customer-friendly. Credit unions are increasingly recognizing these advantages of tech-driven lending solutions and are looking to deploy them in ...
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Meet MonJa at ICBA Live National Convention in Nashville

In Commercial Lending, Company News, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

8 Minutes Read. The Independent Community Bankers of America (ICBA) strives to create and uphold an environment that will allow community banks to grow in a sustainable and profitable manner. You may not be aware but community banks make for 99 percent of American banks, and currently employ more than 760,000 and have almost $5 trillion in assets. The ICBA ...
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2018: A look back at how traditional banks invested in digital transformation for success

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

12 Minutes Read. We are living in a world where literally everything around us is getting digitalized. All types of business are becoming technology driven and banks are no exception. The digital transformation of the banking business is not only about improving the flow of control and work efficiency, but it is also about getting a competitive edge over competitors. ...
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Automated Loan Underwriting Trends For 2019

In Commercial Lending, Featured, Small Business Loan Underwriting by Yulia GnatyukLeave a Comment

4.5 Minutes Read. Automated loan underwriting is one of the fastest-growing areas of digital transformation for businesses seeking to improve the customer experience and operational efficiency. The lending industry has been a trailblazer in automation, in large part because of an increasingly challenging business environment. Developments in underwriting tech have answered lenders' need for new tools to stay competitive and ...
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Small Business Lending: The Profit Puzzle Facing Commercial Banks

In Commercial Lending, Featured, Small Business Loan Underwriting, Underwriting Automation by Yulia GnatyukLeave a Comment

8 Minutes Read. Small businesses play a critical role in the vitality of American economy. They employ half of the private sector workforce and have created approximately 60% of the net new jobs in the US since 1995. Access to credit is essential to the health of small businesses. It helps small firms maintain cash flow, bring on new employees, ...