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.
Blog | Category | Competition
Recent instability in the market, rising inflation, and supply chain issues are creating an uncertain climate for commercial lenders and small business owners. Things may look ominous but there are key strategies to survive and even thrive during these changing times. There are great opportunities for commercial lenders when the market hits a downturn. Lenders have much to gain during tough times by diversifying their lending portfolio and leveraging technology. Adopting a cloud based loan underwriting system to cut down on costs, and investing in a loan origination system and borrower portal to capture more clients are key to adapting to leaner times.
Key economic indicators predict unprecedented growth for the rest of 2021 and beyond. To add to this, an increase in small business lending demands, the rise in entrepreneurship and small businesses coupled with an increases in demand for digitalization look to create an unique climate for commercial lenders. Find out the key trends set to impact commercial lenders and how to best prepare for them and take advantage of the changing landscape.
The competition in the freight factoring market is accelerating at a rapid rate. The strong and growing freight factoring market is drawing in lenders hungry for opportunity. Fast new loan origination and underwriting software and key technology innovations are changing the game by allowing lenders to take on new clients in record time and meet client demands for speed. Find out how you can stay ahead of the competition and make the most of this growing market.
Decipher Credit announced it partnership with Salesforce to bring its loan origination, underwriting and monitoring capabilities to the Salesforce AppExchange, empowering customers to originate, approve and close loans in record time. The partnership with Salesforce will enable commercial lenders to improve efficiency and grow revenues through further automation.
How can commercial lenders diversify to grow? Find out important insights shared by ABL industry experts at the Secured Finance Network’s 2019 Conference. Panelists included Robyn Barrett (FSW Funding), James Baugh (North Mill Capital), Steve McDonald (Global Merchant Fund), and Mark Tiggelovan (Advantage Business Capital).
In the Feb 2019 issue of The Commercial Factor by the International Factoring Association (IFA), Decipher Credit’s founder, Raul Velarde, shares key ways commercial lenders can separate themselves from competitors in an increasingly competitive landscape.