I like things that are easy. Who doesn’t? The 80/20 rule is one of those things. It’s easy to understand,
Historically, business lending has been riddled with manual, labor-intensive processes, taking anywhere from 35 to more than 120 days to
As SMB lending strengthens and evolves, financial institutions must look for ways to improve their process to not only be more efficient but also foster better customer experiences. The good news is that there are proven methods available to do so.
For too long, lenders have based small-business lending decisions on outdated data points such as FICO scores or tax returns. Unfortunately,
Technological advances are changing the way lenders service the SMB market. With financial data sharing, lenders are now empowered to
The benefits of digitization are significant for both lenders and the SMEs they serve. However, for many institutions, “going digital”
Regardless of whether you are a product- or relationship-oriented SME lender (read our earlier post), data is essential for growth.
New data sets are paraded before the lending market constantly, each promising to provide all the information needed to understand customers
As SME lending strengthens and evolves, two categories of lenders have emerged: product oriented and relationship oriented. Product-oriented Lenders Product-oriented lenders