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Mark Messick

Mark Messick, is the Director of ProfitStars’ LendingNetwork. As a part of the Lending Solutions suite of products, the LendingNetwork provides alternative options for loan requests that financial institutions cannot or will not approve. Prior to taking over the LendingNetwork in 2008, Mark worked directly with business owners as a trusted advisor to find working capital solutions through community-based financial institutions across the country. Mark began his career in finance and banking in 1993 with Union Planters Bank. Mark, his wife Alicia, and their five children call Nashville, Tennessee home.

Recent Posts

The Partnership Series – Volume Two: Fintechs Working Hand-in-Hand to Enhance the Small Business Lending Experience

Posted by Mark Messick

Fri, Jan 24, 2020 @ 08:30 AM

Fintechs, by their very nature, have sought more efficient ways of solving routine manual processes. Frequently, these providers have found that by partnering with one another, they can eliminate speed bumps from multiple systems and improve the user’s overall experience. This melding of technologies is a cornerstone principal in the philosophy of so many fintech providers. A partnership with any of them will most likely include more than one valuable piece of functionality.

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Topics: Commercial Lending, Fintech, Partnership

The Five Keys to Designing an Ideal Software User Experience

Posted by Mark Messick

Fri, Aug 09, 2019 @ 07:30 AM

At some point during our careers, most of us have had experiences working with both good and bad software systems. While it’s sometimes difficult to pinpoint exactly what determines your satisfaction level with a system, one thing is certain: You know a good one when you use it. But what is it that separates great design from poor design? When designing software for your organization, or evaluating the purchase of a third-party system, what are the key factors to consider? In all systems, no matter what industry they are meant to serve, there are five key steps to consider during the design phase of the project.

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Topics: Commercial Lending, User Centricity

Big Business in Small-Dollars

Posted by Mark Messick

Wed, Jul 11, 2018 @ 11:00 AM

 

Perhaps you saw the bulletin issued recently by the OCC encouraging financial institutions to make small-dollar, short-term, consumer loans.  I did and for me it points to a big hole in the traditional lending net that needs to be mended (and not by credit card offers).  While our topic today doesn’t deal with consumer lending outright, the bulletin reminded me of three great reasons why today’s financial institutions should consider offering small-dollar loans to businesses.

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Topics: Financial Service Industry Research, Commercial Lending, Credit Unions, Small Business, Financial Institution, Community Banks, User Centricity

The Next Wave of FinTech: Portfolio Management

Posted by Mark Messick

Fri, Nov 03, 2017 @ 11:00 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

Loan Origination is No Longer Enough

Posted by Mark Messick

Fri, Aug 11, 2017 @ 11:00 AM

The world of commercial loan origination is changing rapidly. A by-product of billions of dollars in worldwide technological investment since 2010 is the creation of better lending platforms for community-centered financial institutions.

In the beginning, lenders might have been satisfied with a simple loan origination system (LOS), but by 2017 it’s clear that a basic LOS no longer allows you to be competitive. Today’s world requires systems that talk to each other with ease. It requires strong tools to manage workflows and pipelines while helping generate increased loan volume.

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Topics: Commercial Lending

Stand Pat and Starve. Diversify and Thrive.

Posted by Mark Messick

Wed, Nov 16, 2016 @ 11:15 AM

Because of the recent scrutiny over commercial real estate concentrations and lower-than-expected yields, financial institutions (FIs) have been searching for ways to grow loans and raise profitability. Unfortunately, aside from consumer and commercial and industrial (C&I) lending, lenders don’t see a lot of options. In fact, with the onset of poor performance in the consumer loan space, many FIs have chosen to make business lending a priority. And then a slowdown in the economy, uncertainty about our next president, and competition for the better credits led business lending volumes to fall for the first time in six years according to the Wall Street Journal.

So what’s the response?

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Topics: Commercial Lending

Partner with Alternative Lenders … Why Would I Want to Do That?

Posted by Mark Messick

Fri, Sep 09, 2016 @ 01:00 PM

Much has been made of the competition between financial institutions and alternative, non-regulated lenders for small business loans. A short-sighted view assumes that all of these alternative lenders are the same. In reality, while certain groups tend to look and market similarly, very few of them in the grand scheme actually do the same things. Unfortunately, that fact has been lost because the overwhelming amount of information over the last couple of years has been about “online alternative lenders.” That very narrow focus has provided a disservice to community-based lenders that would like to be able to help their clients but are struggling to balance being helpful versus seeing their customer gouged by higher-priced alternatives. And while many of the “Johnny-come-latelies” are out to disrupt the market and pick the pockets of FIs, there are many others who want to complement what FIs do.

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Topics: Commercial Lending

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