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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 ...
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Planning Your Journey To Digitization

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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 ...