Disjointed data and manual collection and analysis of financials creates a time-consuming credit approval process, stalling lending opportunities and creating extensive manual steps for both borrowers and lenders. To streamline the credit approval processes for lenders, we’ve partnered with Validis, the embedded platform for on-demand access to SME financial data.
The Decipher Credit/Validis partnership offers operational efficiencies for commercial lenders while adding significant value to their customers. Now commercial lenders can extract consented financial and accounts receivable data in real-time from some of the most widely used accounting packages and leverage this data for enhanced loan decisioning. Meanwhile, small and medium enterprises (SMEs) can go from application to a credit decision in a much shorter time frame, streamlining the process. Automating the collection and analysis of financial data quickens the commercial lending process, providing SMEs faster access to capital.
Obtaining real-time financial information, including balance sheet and profit and loss (P&L), accounts receivable, accounts payable, and inventory data is a real challenge for commercial lenders. Lenders need accurate and up-to-date information and are often forced to manually request the appropriate information, which can be unreliable and slow. Combining the functionalities of Decipher Credit and Validis will give lenders a better financial picture of their clients in seconds at the point of application to increase the speed of approval and improve the client experience.
“We partner with the world’s leading data and technology providers to bring innovation to the lending space,” said Raul Velarde, CEO of Decipher Credit. “Through this partnership commercial lenders can instantly access business customers’ accounting data and accelerate the approval process by leveraging some of the most widely used accounting packages. Validis is a trusted leader in the financial data space, and what sets them apart is the ability to collect and standardize complex financial information with the depth that lenders require. They have a proven track record in helping leading financial institutions easily manage financial data. We share many commonalities with Validis, including building an ecosystem of strong technology providers that are experts in their specialties so that together, we can deliver more powerful solutions for lenders.”
Decipher Credit’s credit decision software solutions empower commercial lenders and asset-based lenders with the latest digital tools to streamline origination, accelerate underwriting and approval, and simply win more business. To schedule a free consultation or demo, visit https://deciphercredit.com/demo/.
