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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

Fintechs and Risk Management

Posted by Craig Laures

Wed, Sep 18, 2019 @ 10:00 AM

Fintech providers play an important role in the financial services industry. Banks and credit unions rely heavily on fintechs to sustain compliant efficient operations, process payments and other data, protect information and deliver service to customers in a variety of ways. Partnerships with fintechs offer expertise you may not otherwise have the resources to acquire. Thus, the reward for engaging with trusted providers. On the other side of the reward equation is risk inherent with third-party relationships.

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Topics: Fintech, Partnership, Community Banks, Risk/Fraud

Leveraging Digital Lending Technology to Create Stronger Client Relationships

Posted by Gary Lewis

Fri, Jul 12, 2019 @ 08:26 AM

While it’s relatively easy to prove that new lending technology can create operational efficiencies, you may not feel that it can make relationships stronger. In fact, some people feel exactly the opposite. Many lenders have resisted technological advancement associated with loan origination and underwriting, fearing that they will negatively impact the face-to-face experiences lenders have with clients. Most of us have been conditioned to think that technology simply produces gains in efficiency that help organizations save time and make more money. Up until this point, it has been about the ROI.

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Topics: Commercial Lending, Fintech, Digital

Innovation on Tap at FinovateSpring 2019

Posted by Nicole Harper

Wed, Jun 19, 2019 @ 11:01 AM

Innovation on Tap

Tapping the Fintech Community at FinovateSpring 2019

The city by the bay welcomed FinovateSpring in May at San Francisco’s Hilton Union Square. Innovation was on tap with 60 fintech demos, presentations from industry thought-leaders, strategy roundtables, and more. The Finovate conference series continues to be where you can see the future of fintech first.

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Topics: Fintech, Future Ready, Data and Analytics

Tools of the Trade Series, Part Four - Creating Efficiencies Throughout the Life of the Lending Relationship

Posted by Patrick True

Fri, Mar 08, 2019 @ 07:00 AM

In part three, we discussed how technological innovations have changed the landscape of loan origination in recent years. That, in fact, has been where most tech investment in commercial lending seems to have been directed. But loan origination is just the beginning. So much more can be done to create efficiencies throughout the life of each lending relationship. As in the case of loan origination, these efficiencies will streamline the efforts of both borrowers and lenders and create a richer experience.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Digital, Community Banks, FI Operations, Data and Analytics

Tools of the Trade Series, Part Three: Using Loan Origination Strategies to Create Efficiency

Posted by Patrick True

Fri, Feb 22, 2019 @ 07:00 AM

In recent years, financial institutions have been evaluating their commercial and small business loan originating processes. This has included a close look at the experience currently offered to loan applicants, credit officers, and credit administration staff. Recent trends in technology have created a renaissance in commercial lending.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Digital, Community Banks

Why FIs Should Swipe Right for Fintechs

Posted by Nicole Harper

Thu, Feb 14, 2019 @ 11:00 AM

Swipe left (not interested), swipe right (interested). While it may not be as easy as a dating app to choose your next business partner, let’s explore a few reasons why traditional financial institution (FI) and fintech relationships may be a great match.

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Topics: Credit Unions, Financial Institution, Fintech, Community Banks

Tools of the Trade Series, Part Two: Omnichannel Delivery Creates the Ultimate Customer Experience

Posted by Patrick True

Fri, Feb 08, 2019 @ 07:00 AM

 One of the most important topics of conversation among financial institutions in recent years has been the issue of delivery channels. This has taken two forms. Some articles have focused on demographic shifts, including the growing number of millennial clients and the beginning of baby boomer retirement trends.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Community Banks

A History Lesson on Consumer Lending

Posted by Susan Griffin

Thu, Feb 07, 2019 @ 11:19 AM

Part 1: The Early U.S.

It’s always good to look back on how segments of banking originated based upon events or existing needs of the time. And, as the old cliché goes, you can't know where you’re going until you know where you’ve been. This is as much true in business as it is in life.

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Topics: Credit Unions, Financial Institution, Fintech, Community Banks, User Centricity

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