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 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

Participation Lending: The Hidden Benefits of Changing With the Times

Posted by Kristin Zell

Fri, Sep 20, 2019 @ 09:00 AM

“Participation lending” used to be a phrase uttered only by big-city commercial lenders at the mega banks. They had whole departments, strategies, and products that revolved around it. Over the years, the participation concept has quietly found a place in the community bank and credit union space too. Not because it was a great new fad everyone needed to try. Not because the latest and greatest fintech was doing it too. Rather, it was just good, old common sense that spawned the change.

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Topics: Commercial Lending, Partnership, LendingNetwork

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

That Pesky Doorbell

Posted by Tammy Bangs

Wed, Aug 08, 2018 @ 11:00 AM

The other day, my doorbell rang. I work from home and take several conference calls every day – so when the doorbell rings (pardon me), all hell breaks loose. The dogs go bonkers. My child’s home on summer break. There’s yelling. If I’m on the phone, I have to scramble to mute myself, sequester the dogs, and try to contain the chaos.

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Topics: Small Business, Financial Institution, Partnership, Community Banks, FI Operations

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