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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. However, it only manages 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 processing is to ...
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12 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. Loan underwriting, however, is still largely carried out using conventional, non-automated methods. As a result, some big banks are pushing to expand auto lending and introducing new channels such as direct lending, which may help drive greater automation. The commercial vehicle lending landscape Commercial vehicle lending in the U.S. ...
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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 incorporate automated underwriting to 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 banks and other ...
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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 (MCA) lending is a popular alternative to traditional loans for small businesses. For lenders, however, the MCA lending process requires more work and can take longer than conventional loans. Automated underwriting platforms offered by MonJa can help streamline the MCA lending process and improve productivity. How MCA Lending Works A merchant cash advance is technically ...
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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. While credit unions have typically been slower at adopting new fintech solutions, this fact is changing. 2018 was a great year for financial innovation, with technology making processes faster, more productive, and more customer-friendly. Credit unions are increasingly recognizing the advantages of tech-driven lending solutions and are looking to deploy them in their own operations. For credit unions ...
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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 allows community banks to grow in a sustainable and profitable manner. Community banks compose 99 percent of American banks, currently employing more than 760,000 and holding almost $5 trillion in assets. The ICBA National Live Convention is where experts showcase upcoming trends ...
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2018: 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. With the rise of technology, banks are increasingly digitizing their business models. The digital transformation of the banking system not only improves the flow of control and work efficiency, but gives banks an edge over their competitors. According to a survey conducted by Accenture, 67% of banking executives believe that within the next five years customers will ...
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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 for businesses seeking to improve the customer experience and operational efficiency. The lending industry has been a trailblazer in automation amidst an increasingly challenging business environment. Developments in automated loan underwriting have answered lenders' need for new tools to stay competitive and profitable. Pressures in the business lending market ...
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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 American economy. They employ half of the private sector workforce and have created approximately 60% of the 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, buy additional inventory ...