Streamlining Asset-based Lending with Modern Technology
Asset-based lending (ABL) has been around for decades, but the ways it has been used has significantly changed over time. At one point, ABL was regarded as creative financing for…
How Technology Can Shield Lenders From Economic Storms
During periods of instability and economic downturns, lenders face unique challenges in maintaining profitability and managing risk. In precisely these times, it becomes crucial for lenders to have the right tools to capture clients more quickly, reduce risk, and put them above competitors to navigate challenging conditions. Here are some of the ways lenders can weather the storm and can use technology as a significant advantage during periods of economic instability.
7 Ways Lenders Can Capitalize on the Demand for Alternative Business Lending
As banks and larger lenders tighten credit in an uncertain lending environment, the demand for business lending continues to increase. Alternative lenders are finding themselves uniquely positioned to capitalize on this trend and capture more small businesses looking for financing. Non-traditional lending models, empowered by technology, are becoming a necessity due to their convenience, speed, and flexibility.
Boosting Efficiency: The Role of Automation in Loan Origination
The world of finance has been continuously evolving in recent years, embracing technological advancements to improve both service delivery and client satisfaction. A key area of innovation is in loan origination for commercial lending, where automation has become a powerful tool in boosting efficiency. This transformation is helping lenders reduce operational costs, speed up service delivery, and enhance the customer experience.
Five Types of Fraud in Factoring & How Technology Can Help
Factoring is susceptible to various types of fraud. Here are five of the most common types: Timing Fraud: Timing fraud involves manipulating the timing of invoices and payments to deceive the factoring company. For example, a company might delay reporting payments received from customers to make it appear as though the invoices are outstanding and eligible for factoring.
The Benefits of Automating Your Loan Decisioning Process
Should you automate third-party data and apply your loan policies and risk thresholds to facilitate real-time loan decisions? The short answer: Yes! Imagine automating analysis using customer, business and third-party data to facilitate real-time decisions. An origination and underwriting platform that can be used to automatically approve prospects and do credit reviews on current customers and is also configured for a lender’s loan policies and risk thresholds.
4 Ways to Improve Workflows Between Origination & Underwriting
Improved coordination and communication between your origination and underwriting teams will boost productivity, increase transparency, facilitate teamwork, and close loans faster. When it comes to your origination and underwriting, your tools and systems should enable you to improve coordination and communication among teams across your entire organization. Here are 4 ways to leverage your origination and underwriting systems to improve collaboration among all lender teams and advisors from start to funding:
What Recent Bank Closings Mean for Factoring & Asset-Based Lending
When banks start tightening lending, not only do they offload business loans that no longer fit their criteria but they may also be open to participations. Factoring as well as Asset-Based-Lenders can step in and participate on a piece of the deal. At the same time, higher Factoring and ABL fees resulting from increased interest rates can be another advantage of capturing small business loans banks can no longer hold on their books. This creates an opportunity of increased business for Factoring and ABL, and with such demand, lenders should leverage the right technology to...
Tips to Surviving an Economic Downturn for Commercial Lenders
Recent instability in the market, rising inflation, and supply chain issues are creating an uncertain climate for commercial lenders and small business owners. Things may look ominous but there are key strategies to survive and even thrive during these changing times. There are great opportunities for commercial lenders when the market hits a downturn. Lenders have much to gain during tough times by diversifying their lending portfolio and leveraging technology. Adopting a cloud based loan underwriting system to cut down on costs, and investing in a loan origination system and borrower portal to capture more clients are key to adapting to leaner times.
Decipher Integrates with First Corporate Solutions
Decipher Credit announced its API integration partnership with First Corporate Solutions, Inc. to help its users accelerate the capture and onboarding of new clients and perform due diligence instantly. Shared users will be able to perform UCC search and filing automatically directly from the Decipher origination and underwriting platform and benefit from trusted First Corporate Solutions services. The shared expertise in specialty lending and commitment to technology also make the partnership a clear win for both companies and their clients.