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The 5 Cs of Credit Still Reign

Posted by Richard Owens

Aug 10, 2018 10:01:00 AM

In recent years, fintech-style lending has focused a lot of attention on the concept of automated approval of smaller commercial loan requests. While it may seem as though lenders have moved away from the traditional “Five Cs” of credit toward a more digital path, they still reign supreme in the modern age of fintech.

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Topics: Relationship Management, Commercial Lending, Customer Experience, fintech, banking, technology, credit

A Scout's Guide to Commercial Lending

Posted by Gary Lewis

Jul 27, 2018 10:30:00 AM

 

 

Anyone who has spent time with Boy Scouts knows the scout slogan, “Do a good turn daily,” as well as their motto, “Be prepared.” There could not be two more appropriate phrases to guide commercial lenders – it’s the essence of everything they do during their careers. Like Scouts, commercial lenders are passionate about serving the needs of the businesses in their local communities. They also operate in an environment that carries the risk of financial loss, so they must be trained and prepared for any circumstances they may encounter on the trail.

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Topics: Relationship Management, Commercial Lending, Customer Experience, fintech, banking, technology

Consider a GPS for Your Commercial Loan Portfolio

Posted by Patrick True

Jul 13, 2018 10:15:00 AM

 

Anyone who has spent time travelling or hiking sometime over the last ten years has witnessed an impressive increase in the use of global positioning systems (GPS). These devices and phone apps have become invaluable to folks who spend a lot of time moving from one place to another. The concept of GPS has also worked its way into other automated systems.

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Topics: Relationship Management, Commercial Lending, Customer Experience, fintech, banking, technology, user experience

Mobile Services--Not Just for Borrowers Anymore

Posted by Patrick True

Jun 29, 2018 12:02:00 PM

Commercial lending officers have witnessed mobile banking changing the landscape of general banking services in the last five years. In a recent study, CitiBank estimated a 25% increase in use of mobile banking during 2017. Each year, more clients request greater access to both informational and transactional services through their phones and tablets.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

The Six Primary Benefits of Digital Lending Platforms

Posted by Patrick True

Jun 15, 2018 1:30:00 PM

No one knows the exact date the digital lending movement began. One thing everyone can agree on is that its roots date back to the dot-com era of the late 1990s – starting with mortgage lending and moving toward consumer lending. In the more recent, post-recession years, the movement has been advancing into small business and commercial lending.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

Should We Pay More Than Lip Service to Voice Banking?

Posted by Nicole Harper

Jun 6, 2018 11:00:00 AM

 

Talking is easier than typing (thanks, Captain Obvious). Voice assistants aren’t new, but there seems to be growing chatter about smart speakers and voice banking. Is it all just hype or should banks and credit unions be taking this seriously? To help answer this, let’s challenge some common assumptions.

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Topics: Customer Experience, Mobile Banking, Online Bill Pay, voice banking, digital survival, financial institution, technology, Digital Generation, Baby Boomers, Millennials

Lending at the (New) Speed of Business

Posted by Patrick True

Jun 1, 2018 1:30:00 PM

 The length of time it takes for a financial institution to render a credit decision will vary widely across organizations as well as loan types. While small working capital obligations and unsecured debt may take only a day or two, commercial real estate and SBA loans can take several weeks for a decision and over a month to close.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

All Rivers Lead to the Sea

Posted by Patrick True

May 18, 2018 1:30:00 PM

 

While all rivers eventually lead to the sea, the route you choose makes all the difference to your passengers and crew.

While the fintech movement has been getting a lot of press in recent years, it is simply a continuation of decades of advancement in financial technology beginning in the early 1980s. While the rate of change may have increased, the process and the motives remain the same.

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Topics: Relationship Management, Commercial Lending, Customer Experience, Mobile Banking, fintech, banking, technology, user experience

Mobile Banking Trends Continuing to Rise

Posted by Hannah Day

May 16, 2018 11:00:00 AM

It’s no secret; mobile banking is a requirement for financial institutions (FIs) today. In 2017, we noticed a few key trends that set the stage for where we are today. These trends are; enhanced customer experience via the mobile device, new authentication methods, and big data.

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Topics: Customer Experience, Mobile Banking, Credit Unions, big data, banking, technology, user experience

Banking on Budget: Why You Should Integrate a Personal Finance Management Tool

Posted by Molly Mantei

Apr 25, 2018 11:00:00 AM

Dear Financial Institutions,

How would you react if I walked into your bank or credit union and said, “I’d like to create a budget and track my spending in your online banking and mobile app. Can you help me get started?” Would you smile as you showed me where to access your personal finance management (PFM) tool, or would you dab at your beads of sweat as you explained that you don’t offer anything like that?

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Topics: Customer Experience, Mobile Banking, Online Bill Pay, Credit Unions, digital survival, banking, financial institution

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