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Taming the Monster on Your Desk

Posted by Patrick True

Feb 9, 2018 1:30:00 PM

According to a recent study by the RadiCadi Group, the average person receives 121 emails a day while sending 40 emails in the same time span. There is no doubt that more people are competing for our time each year. This can often lead to a sense of overwhelming stress in our workplace when we cannot seem to keep pace with the glut of information we face every day. 

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Topics: Information Technology, Commercial Lending, Small Business Market, Lending, Data, fintech

Pay No Attention to That Credit Officer Behind the Curtain

Posted by Patrick True

Jan 26, 2018 1:40:00 PM

As a risk manager for a company that licenses financial technology, you might assume that I would be a huge advocate for the latest and greatest algorithmic tools to automate small business lending decisions. Without a doubt, technology exists today to access enough information to make an informed decision regarding almost any form of commercial credit. That said, I am extremely cautious about such thinking. I believe strongly in the use of technology to enhance the credit decision process and create efficiencies. But I also believe there is a marked difference between automated credit decisions and credit decision automation. The first produces a credit decision based solely on data. The second uses data and enhanced workflows to facilitate credit decisions in an efficient manner, thus saving cost and increasing profitability. You must ask yourself a simple question. What is the smart credit decision? Simply put, it is the decision that is right for your institution.

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Topics: Commercial Lending, Small Business Market, Lending

The Future of Commercial Loan Underwriting Has Arrived!

Posted by Debbie Gross

Jan 12, 2018 2:00:00 PM

 

Build a better mousetrap and the world will beat a path to your door.” – Ralph Waldo Emerson

The underwriting process for commercial loans has been evolving slowly for more than 30 years. Yet, for most community-based institutions, the basic components have remained constant – until now. Study after study over the past five years has indicated that borrowers want the friendly, local decisions and customer service that community-based institutions are known for. At the same time, they are demanding faster decisions and more efficient credit application methods.

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Topics: Relationship Management, Commercial Lending

Top 5 Commercial Lending Posts of 2017 – Part 2

Posted by Strategically Speaking

Dec 29, 2017 11:00:00 AM

As 2017 draws to a close, it’s a good time to look back, take stock of our progress … and perhaps catch up on a few things missed along the way. If, by chance, insightful commercial lending blog posts were among your missed opportunities, we submit this list of Strategically Speaking gems from the second half of the year for your consumption. Happy reading!

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Topics: Commercial Lending

The Four Pillars of Relationship Management

Posted by Patrick True

Dec 15, 2017 11:00:00 AM

Studies show it costs between five and ten times as much money to win a new customer as it does to retain an existing customer, leaving no doubt that client retention has significant benefits. At the center of any client retention effort is your relationship management strategy, which brings us to the "Four Pillars of Relationship Management." These pillars represent organizational processes you can focus on to enhance your client retention efforts, regardless of which loan product or service you are delivering.

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Topics: Commercial Lending

The Six Ps for Success in Selling

Posted by Patrick True

Dec 1, 2017 11:00:00 AM

There are six universal truths in selling, regardless of whether you are dealing with a loan product or a business service. These truths can be particularly beneficial to young lenders learning to sell financial services. Amazingly, all six of these truths begin with the letter “P.” Who knew? So, whether you are a new sales professional or a seasoned veteran responsible for hiring and mentoring new associates, I offer these thoughts to ponder as you prepare your team and prime your sales process for the new year.

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Topics: Commercial Lending

Integrated Portfolio Management Strategies Allow Credit ACE to Shine

Posted by Patrick True

Nov 17, 2017 11:00:00 AM

The rise of integrated portfolio management systems will have a significant impact on credit officers’ ability to evaluate the condition of their commercial portfolios and take quick action when needed. Throughout the years, we have discussed the Credit ACE formula associated with commercial loan management functions.

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Topics: Commercial Lending

5 Emerging Game Changers in Commercial Credit Risk Management

Posted by Patrick True

Nov 8, 2017 7:00:00 AM

As the financial services industry enters 2018, technological advancements within the sector are beginning to have a significant impact on the way credit risk managers, from chief credit officers to front line lenders, handle their responsibilities. Five emerging trends are likely to reshape the business of commercial lending in the months and years ahead. Many of you are likely already seeing some of these changes in your institutions. The business of commercial lending is in the midst of a renaissance that has the ability to significantly enhance communication between lenders, their clients, and their prospective clients.

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Topics: Risk Mitigation, Commercial Lending

The Next Wave of FinTech: Portfolio Management

Posted by Mark Messick

Nov 3, 2017 11:00:00 AM

While the majority of the financial technology focus in recent years has been on loan origination systems and automated decision tools, portfolio management is the real key to long-term success in commercial lending. Just ask lenders how many bad loans they’ve made during their career. The large majority will tell you that each time a loan was made, the financial institution had every reason to believe it was a good deal. The loans were within policy and conditions at the time called for approval and funding. When loans stop performing, it is almost always because circumstances have changed. From macroeconomic factors to poor business management to other direct influencers, loans can deteriorate for any number of reasons. That’s why the next significant area of fintech development will be in portfolio management, rather than the pre-funding processes.

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Topics: Commercial Lending

Capturing the Emerging Businesses Market by Achieving 0 to 60 with Record Results

Posted by Renee Weatherby

Oct 20, 2017 11:30:00 AM

Providing loans to young and emerging small businesses should be considered “mission critical” for any community-based financial institution hoping to grow its loan portfolio. According to the recently released report on startup firms by the Federal Reserve, 20% of all employer firms in the U.S. have been in business for less than 2 years while another 14% have been around for 3 – 5 years. That is about a third of all employer firms. Additionally, more than half of these firms sought financing in 2016.

Here are a few other key business metrics from the report:

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Topics: Commercial Lending

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