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.

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:

When banks start tightening lending, not only do they offload business loans that no longer fit their criteria but they may also be open to participations. Factoring as well as Asset-Based-Lenders can step in and participate on a piece of the deal. At the same time, higher Factoring and ABL fees resulting from increased interest rates can be another advantage of capturing small business loans banks can no longer hold on their books. This creates an opportunity of increased business for Factoring and ABL, and with such demand, lenders should leverage the right technology to…