The process of commercial lending used to be lengthy and complicated. It used to be extremely manual when not working with automation that can now
Consumer lending has always been regulated by consumer protection laws, but commercial lending has typically had less compliance requirements, especially for independent lenders. This is
As the world leans more into digitization, few business sectors are getting left behind. Commercial lending is no exception. Lenders are seeking ways to automate
Asset-based lending (ABL) has been around for decades, but the ways it has been used has significantly changed over time. At one point, ABL was
During periods of instability and economic downturns, lenders face unique challenges in maintaining profitability and managing risk. In precisely these times, it becomes crucial for lenders to have the right tools to capture clients more quickly, reduce risk, and put them above competitors to navigate challenging conditions. Here are some of the ways lenders can weather the storm and can use technology as a significant advantage during periods of economic instability.
As banks and larger lenders tighten credit in an uncertain lending environment, the demand for business lending continues to increase. Alternative lenders are finding themselves uniquely positioned to capitalize on this trend and capture more small businesses looking for financing. Non-traditional lending models, empowered by technology, are becoming a necessity due to their convenience, speed, and flexibility.
The world of finance has been continuously evolving in recent years, embracing technological advancements to improve both service delivery and client satisfaction. A key area of innovation is in loan origination for commercial lending, where automation has become a powerful tool in boosting efficiency. This transformation is helping lenders reduce operational costs, speed up service delivery, and enhance the customer experience.
Factoring is susceptible to various types of fraud. Here are five of the most common types: Timing Fraud: Timing fraud involves manipulating the timing of invoices and payments to deceive the factoring company. For example, a company might delay reporting payments received from customers to make it appear as though the invoices are outstanding and eligible for factoring.
Should you automate third-party data and apply your loan policies and risk thresholds to facilitate real-time loan decisions? The short answer: Yes! Imagine automating analysis using customer, business and third-party data to facilitate real-time decisions. An origination and underwriting platform that can be used to automatically approve prospects and do credit reviews on current customers and is also configured for a lender’s loan policies and risk thresholds.
Improved coordination and communication between your origination and underwriting teams will boost productivity, increase transparency, facilitate teamwork, and close loans faster. When it comes to your origination and underwriting, your tools and systems should enable you to improve coordination and communication among teams across your entire organization. Here are 4 ways to leverage your origination and underwriting systems to improve collaboration among all lender teams and advisors from start to funding: