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Can a Bank Quickly Streamline Loan Underwriting With the Help of Fintech?

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

Read time: 5 minutes Introduction Manual underwriting processes make typical commercial loans (especially complex ones) extremely time-consuming for community banks and credit unions to analyze and underwrite. Financial institutions and lenders that use digital technology and tools, supported by risk assessments and artificial intelligence (AI), can process loans much faster and more efficiently.   Companies that specialize in digitally automating financial ...
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3 Reasons for a Bank To Tap Into Outside Loan Underwriting Services

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

Read time: 5 minutes Introduction The financial lending landscape evolves constantly and often community banks and credit unions falter when adopting new technology. You need to make sure customer data is safe for your reputation and make sure you have fast data access when undergoing audits, all while maintaining a competitive edge. An obvious money-saving choice is utilizing a cloud ...
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Want to Speed Up Your Commercial Loan Underwriting? Smart Scan Technology Automates the Process

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

Read time: 5 minutes Introduction MonJa’s automated underwriting system is the biggest value we provide to banks and credit unions. We help your financial institution to speed up commercial loan (C&I, CRE, commercial vehicle, SBA and other small business loans) underwriting by 70%. We do it with the help of MonJa smart scan technology. All that credit officers need to ...
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5 Key Challenges that Banks & Credit Unions will face the most in 2020

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

Read time: 8 minutes Introduction The banking and financial services industry has evolved in the past decade. With the emergence of digital banks and marketplace lenders, banks and credit unions are no longer the first port of call for credit and banking needs. The biggest challenge being faced by the industry is the changing customer expectation. A typical millennial does ...
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MonJa at Small Biz: Banking Conference in Los Angeles

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

Read time: 5 min   Introduction The Small Biz: Banking Conference was held on November 19-21 at the Intercontinental Downtown in Los Angeles. From the last 23 years, the American Banker Small Business Banking Conference has been the nation’s largest and most progressive small business banking event in the industry. The Conference’s main aim is to help banks develop effective ...
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The Federal Reserve Bank of Philadelphia: Third Annual Fintech Conference

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

Read time: 5 min   About The Federal Reserve Bank of Philadelphia The Federal Reserve Bank of Philadelphia is one of the 12 Regional Reserve Banks that make up the Federal Reserve System together with the Board of Governors in Washington, D.C. Philadelphia Fed has been a strong advocate of growing the fintech ecosystem and has been a regular contributor in ...
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Is Your Bank Ready for Cloud Technology? Pros and Cons of Running Systems On-Premise vs. in the Cloud

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

Read time: 5 minutes Introduction Cloud technology can allow lending organizations scalability so even the smallest credit union or community bank can benefit. Care must be taken to ensure that sensitive financial information remains the property of the lending institution. The solution involves access to expert financial cloud-based software, accessible via portal logins. This keeps customers and proprietary data safe ...
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Automation Of Credit Underwriting For Banks And Credit Unions: 9 Reasons Why It Is Beneficial

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

Read time: 7 minutes Introduction The advent of technology has undoubtedly changed the way things function in the world. In times where people depended on traditional banking and other offline sources for loans, credit underwriting was a tedious and very long process for borrowers. Now, with lending accessible through digital platforms, credit underwriting has also had to evolve to fit ...
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Top 10 US Commercial Banking And Lending Tech Providers

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

Read time: 8 minutes Commercial banking technology is rapidly catching up to innovations in the digital, non-banking sector. Larger financial institutions have realized that the future of commercial banking lies in embracing innovations that improve processes, reduce costs and, most importantly are more responsive to customer needs. The Market of Commercial Lending Technology While the market has a long list ...
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How Community Banks Implemented Commercial Lending Technology: 5 Success Stories

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

Read time: 11 minutes Community banks are rapidly becoming more competitive with the help of advanced commercial lending technology. Working with expert commercial lending software vendors, many small banks have significantly increased the number of loans processed for small businesses. The software can perform automated underwriting while utilizing artificial intelligence (AI) algorithms to produce accurate loan scoring. Adjust Your Commercial ...