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Automated Loan Underwriting Trends For 2019

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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

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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, ...
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Planning Your Journey To Digitization

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4 Minutes Read. Digital solutions are opening broader opportunities for financial institutions in small business lending and other services. Automation boosts process efficiency, leading to cost reductions while raising productivity. For most banks, a third-party provider is the most practical source for small business lending software solutions. In order to successfully integrate a digital lending solution and enjoy its maximum ...
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How To Create The Ideal Millennial Bank

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4 Minutes Read. How to Create the Ideal Millennial Bank "Millennials," the generation born between 1980 and 2000, are an economic force of almost unimaginable strength. They are the largest generation in American history, and by 2022 will make up more than 40 percent of the country's workforce. They already account for $1.3 trillion in buying power annually. And their ...
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Overview of Small Business Lenders – 2018 Update

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8 Minutes Read. We first wrote about key US-based alternative lenders inNovember, 2017. In case you missed it, here it is: Overview of US SMB Lenders (Alternative Lenders). This new article is a great addition and update! Please enjoy! Small Business Lending has dramatically evolved since the market crash of 2008. The almost $700 Billion small business lending market has grown ...
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Return on Investment on Technology: A Lender Perspective

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7 Minutes Read. As a traditional lender, the onslaught of alternate digital-only lenders has been relentless. They have captured a significant share of the consumer loan and small business finance market. New regulatory provisions like the OCC banking charter to digital-only banks will only fuel their nationwide expansion. As such, investing in lending automation is not an option anymore. Incorporating ...
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A Buying Guide to Small Business Lending Software

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8 Minutes Read. Lending software offers many benefits for financial institutions of all kinds. For small business lenders and institutions wishing to expand their markets, a lending software solution is virtually a must-have tool. There are many top-notch lending software solutions now available, but how do you pick the right one? This handy guide provides some key things to look ...
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Data Security in Digital Lending Space

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4 Minutes Read. The Equifax data breach in 2017 caused a significant data loss for more than 145 million people in the U.S., U.K. and Canada. Cybersecurity has become a top priority for financial institutions around the globe, particularly in the digital lending. The Equifax incident was considered a wake-up call for the industry. But even before that, data security in ...
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Digital Lending and Artificial Intelligence

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3 Minutes Read. Artificial intelligence (AI) is expanding rapidly in the fintech industry. Digital lending is one of the key areas in which it is being applied. By 2020, as much as 5 percent of all of economic transactions will be handled by autonomous software, including loan transactions. By applying machine learning to collected borrower data, software solutions can approve ...
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The Future of Digital Lending Innovation

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6 Minutes Read. Digital lending is revolutionizing business in the financial sector. Going digital has helped many banks and other lenders to streamline processes and improve the quality of their services. This, in turn, has led to reduced costs and improved efficiency.  New innovations in digital lending are constantly being developed, and the future for the sector looks bright. Here ...