Financial Data – The Wave of the Future

Technological advances are changing the way lenders service the SMB market. With financial data sharing, lenders are now empowered to make better decisions and provide a better experience for business borrowers. It is truly a win-win.

Leading the charge are the financial institutions currently leveraging Validis’ DataShare technology, a financial data extraction tool that acts as a data pipe between the SMB’s accounting system and the lender. It delivers complete, real-time financial information to the loan decisioning and portfolio management teams by automating the gathering and standardization of an SMB’s financial data.

As a result of DataShare, financial institutions are saving countless hours during loan processing. Improving decisioning, and providing a better experience for their clients.

Validis clients see benefits such as:

*80% decrease in the time it takes the business borrower to gather and submit financials (loan origination)

*84% decrease in time for underwriting to format financials, calculate ratios and spread (credit decisioning)

*80% decrease in the time spent asking business borrowers for additional information (additional efficiency gains)

Fast processes that deliver greater insights must become a best practice rather than a competitive differentiator for financial institutions. This starts with using technology to automate the gathering and standardization of financial data.  Better data and greater insights results in fast, confident decisions.

In our latest whitepaper, we offer insights on how financial institutions can transform their SMB lending processes, explore how outdated SMB borrower data leads to inefficient processes and puts the lender at greater risk, and discuss ways to drive efficiency, minimize risk and gain a comprehensive understanding of your SMB clients.

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