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Operating at Your Best While Preparing for the Worst

Posted by Guest Author

Fri, Mar 27, 2020 @ 08:24 AM

To say that we live in uncertain times is a dramatic understatement. Political uncertainty, the threat of new tariffs, and the coronavirus pandemic have all contributed to a highly volatile outlook. This uncertainty is compounded in the transportation sector, where growth is closely tied to the output of the global economy. Coupled with long-term trends that have resulted in more competitive threats, price pressure, and increased service expectations, this volatility could hardly come at a more challenging time.

This should be a call to action for managers across the transportation sector to critically assess how their businesses could be affected by an economic slowdown. Fortunately, new technology solutions can create new ways to prepare. For example, by reducing costs and better managing risks, companies can ensure that factors and other transportation players are protected against the threat of a volatile economy.

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Topics: Commercial Lending

Which Industries Will Be Asking Your Lenders for Working Capital Lines in 2020?

Posted by Patrick True

Fri, Mar 06, 2020 @ 08:30 AM

The most common loan request from businesses in the U.S. is a revolving line of credit. Federal Reserve Small Business Credit Surveys from the past five years prove this point. In the most recent of these, it was reported that more than 85% of credit requests are for short-term loans or lines, typically secured by business assets with a reliance on accounts receivable and/or inventory.

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Topics: Commercial Lending

The Partnership Series – Volume Four: Financial Institutions and Alternative Lenders

Posted by Paul McCulloch

Fri, Feb 21, 2020 @ 08:30 AM

Why should a financial institution (FI) care about the many alternative lending options their consumer and commercial customers have today? 

First, let’s define what alternative lending means. It’s a broad term that describes a wide range of loan options to consumers and business owners outside of a traditional bank or credit union loan. These alternative lenders are most commonly used when an individual or business owner cannot obtain a traditional loan from their FI for any number of reasons. Another reason is because of the delays and difficulty associated with applying for and being approved for traditional banking loans compared to the speed and ease of use being provided by many of the new alternative lenders today.

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Topics: Commercial Lending, Partnership

“All right stop, collaborate, and listen”

Posted by Jody Brown

Wed, Feb 12, 2020 @ 10:18 AM

It’s hard to believe that Robert Van Winkle (AKA Vanilla Ice) gave us such sage advice back in 1989. OK, maybe his opening line is the only nugget of wisdom in the lyrics of “Ice Ice Baby” – but following its wisdom can naturally lead to more trusting, and ultimately more fruitful, partnerships.

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Topics: Commercial Lending, Partnership

The Partnership Series – Volume Three: Fintechs, Big Data, and Third-Party Risk Management

Posted by Guest Author

Fri, Feb 07, 2020 @ 08:30 AM

As discussed in previous posts in this series, the degree of collaboration within a financial institution’s technology partnerships will play a significant role in determining future success.

While there are advantages to partnering with fintechs and other third-party vendors, increasing the number of these relationships comes with its own set of strategic, tactical, and regulatory challenges.

How do you overcome third-party vetting challenges and scale your vendor risk management program to accommodate more dynamic partnerships?

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Topics: Commercial Lending, Fintech, Data and Analytics

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 Partnership Series – Volume One: Financial Institutions and Technology Firms

Posted by Patrick True

Fri, Jan 10, 2020 @ 11:29 AM

The financial services industry seems to be transitioning into a new phase of technological advancement. The last 10 years have seen the beginning of a technological renaissance in many areas of the industry, affecting the way that both consumers and businesses interact with financial institutions. From payment services to lending and risk management, financial institutions continue to focus their resources on creating the best user experiences for clients and the most efficient workflows for employees. While the first 10 years of this process was shaped by the birth of new financial technology providers, the next 10 will more likely be driven by collaboration and partnerships between these companies and financial institutions.

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Topics: Commercial Lending, Partnership, User Centricity

Professional Guides on the Path to Digital Change

Posted by B.J. Hall

Fri, Dec 20, 2019 @ 08:30 AM

Commercial lending is no longer immune to the digital transformation that has forever changed the world of banking. Now business borrowers, like consumer borrowers before them, are demanding faster access to capital and a better customer experience. Yet many commercial lending teams still have no technology in place to satisfy those demands. Why?

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Topics: Commercial Lending, Future Ready

Four Emerging Trends Driving Financial Technology Through 2020

Posted by Susan Griffin

Fri, Dec 13, 2019 @ 08:30 AM

The world of financial technologies has been experiencing dynamic changes in recent years. As we prepare to enter 2020, it is important to look at how the past 10 years have shaped our industry and highlight emerging trends that are likely to dominate the software development landscape in the next 12 months. Here are the top four trends that are likely to impact future software development in the year ahead.

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Topics: Commercial Lending, Future Ready, Financial Technology

Credit Scoring for Small Businesses: A love-hate relationship

Posted by Nathan Streeter

Wed, Nov 27, 2019 @ 10:02 AM

I have a love-hate relationship with credit scoring for small business clients. Having started my career in banking, where we moved from traditional underwriting to credit scoring, I have seen both the good and bad of scoring models. Over the past 20 years there have been numerous shifts in how financial institutions attract and attain small businesses. One of the primary transformations is due to credit scoring.

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Topics: Commercial Lending, Small Business, Financial Institution

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