Digitize your lending journey with Paynet and Validis
PayNet an Equifax company, is the leading provider of credit ratings on small businesses enabling lenders to manage credit risk, grow earning assets and operate credit processes at a lower cost. From tractors to technology, leases to lines of credit, PayNet’s commercial lending clients provide much-needed capital to small businesses. helping to get funds in the hands of companies across the U.S. and Canada—through traditional banks, online and alternative finance lenders, and commercial finance and leasing companies.
The Validis partnership with Paynet/Equifax is a synergy between the cutting edge Validis financial statement technology and one of the industry’s leading commercial lending solutions companies, Paynet.
PayNet will integrate Validis’ technology platform, DataShare, into its suite of solutions in order to solve the outdated process of lenders manually gathering, sharing and analyzing applicants’ financial statements. As a result, lenders will significantly increase process efficiencies, provide a quicker “time to decision” and improve the lending journey and outcome for SMBs.
Paynet has the largest proprietary database of small business loans, leases, and lines of credit in the market, combining this with Validis’ ability to access borrowers financial statements is a powerful fit for Paynet and Equifax’s commercial lenders. Ultimately the integrated solution should help PayNet to achieve their mission of closing the small business gap by making the lending process faster, easier, more accurate and more profitable.
How it works
Through Paynets “FSR” platform borrowers are invited to submit their financial statements directly. Once the borrower uploads their financial statements the bank has access to pre-calculated decision ready data automatically, eliminating hours of data entry and error prone manual analysis.
Key Features:
- One-click data extraction across SME accounting platforms
- The information you care about most exactly how you want to see it
- Standardized analysis for underwriting, credit reviews, and portfolio management
Combining Financial Statement report with any number of their credit tools allows banks to lend with confidence, cut risk and reduce cost.
Solution Benefits
Digital collection of borrower financials
Streamline the lending journey
Increase borrower insight
Understand the risk in your portfolio
Reduce time to decision
Improve Customer Experience
Further digitalize client journey
Client testimonials
"Partnering with Validis furthers that commitment and creates greater value for our clients by digitizing and accelerating the commercial loan process.”