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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

Be a FinTech Contributor

Posted by Danny Payne

Jul 19, 2018 11:00:00 AM

I truly enjoy industry publications, posts (like this one), and participating in financial technology conferences. I actually wrote a “Strategically Speaking” post titled, The Value in FinTech Conferences, about the true value of participating in, and not just attending industry events. It’s great to sit out in the crowd, listen, learn, absorb, and move on. Isn’t that what most of us do? We get excited, agree with the points the speaker or panel are making, and go back to do the same thing we always did. 

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Topics: Financial Services Industry, Credit Unions, fintech, banking, financial institution

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

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

Gift-Worthy Tech Mom Will Love for Mother's Day

Posted by Shannon Sickmon

May 4, 2018 11:47:00 AM

 Mother’s Day is just around the corner, so for this week’s blog, we want to take a break to celebrate Mom. We know that your role as a Commercial Lender is hectic, and you might not have time to shop.  Because we understand, we did the shopping for you! 

We rounded up a list of great tech gifts that will save Mom time, keep her stylish, and make sure she never misses an appointment. These five tech gadgets appeal to everyone, even those who aren’t tech-savvy.

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Topics: Commercial Lending, Lending, fintech, banking, technology, Mother's Day, gifts

FinTech vs. BigTech and What Community FIs Should Know

Posted by Jennifer Geis

May 2, 2018 11:00:00 AM

Fintechs emerge

There’s always been a lot of competition in the banking business. Big banks, community banks, credit unions and eventually online-only banks compete for market share, investor dollars, and  consumer trust. Back in the early 2000s, the notion of focused Fintechs emerged. PayPal was one of the first true Fintech firms. It received its first wave of funding in 1998 and later launched a mobile payment platform specifically for Palm Pilots and PDAs (personal digital assistants). Remember those? In addition to PayPal, other early Fintech players included Mint and Square. Mint created a personal finance management dashboard in 2006 and Square launched a mobile point-of-sale terminal in 2009.

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Topics: Credit Unions, fintech, banking, financial institution, API, bigtech

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