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Planning Your Journey To Digitization

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

4 Minutes Read. Digital solutions are opening opportunities for financial institutions in small business lending and other services. Specifically, automation boosts process efficiency, reducing costs 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, your business needs a sound strategy. ...
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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, or 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 ...
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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 Small Business Lenders in November 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. With the advent of fintech marketplace lending, the ...
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Return on Investment on Technology: A Lender Perspective

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7 Minutes Read. For the traditional lender, the increase in digital-only lenders has made the demand for traditional loans quite sparse. Digitalization has permeated the consumer and small business loan market. With new regulatory provisions such as the OCC banking charter to digital-only banks, applying for loans digitally is rapidly becoming the norm. As such, investing in lending automation is ...
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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. In particular, AI has largely affected digital lending. 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 or reject most loan applications automatically. ...
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The Future of Digital Lending Innovation

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

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4 Minutes Read. The small business lending sector was revolutionized with the introduction of Fannie Mae's Desktop Underwriter in 1995. The many roles the automated system filled in the lending process convinced financial institutions of the value of investing in a business lending software solution. Such software essentially operates as a fast, accurate employee who can make routine decisions when ...
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Lenders of the New Age: Incorporating Artificial Intelligence, Machine Learning and Blockchain Technology

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12 Minutes Read. Although alternative digital lending is still in its infancy, it has made a major mark in the consumer and SMB lending industry. A survey conducted by American Banks Association claims that: the volume of loans originated by digital lending platforms will rise to USD 90 billion in 2020 in the US, constituting about 10% of the total ...
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E-book: How Automation Can Help With Small Business Loan Underwriting

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Looking for ways to grow and expand the loan origination volumes? Wondering how do this cost-effectively? Trying to simplify your loan underwriting workflow? It may be the right time to start exploring automation. Check out our e-book to learn how loan underwriting automation can simplify and boost the productivity of your lending process. Download Our Free E-Book! Email Address Company ...