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Financial Data Sharing APIs

Small businesses are the backbone of the U.S. economy and present a big opportunity for financial institutions, particularly now. Despite years of sluggish growth, we’re currently seeing steady increases in entrepreneurship with signs of continued growth ahead. In fact, the NFIB Small Business Optimism Index soared to 108.8 in August – a new record in

Read More »

Taking SMB Lending From Inefficient to Effective

Historically, business lending has been riddled with manual, labor-intensive processes, taking anywhere from 35 to more than 120 days to complete. The process typically starts with the lender requesting a mile-long list of financial reports, including balance sheets and financial statements, bank statements, tax returns, accounts payable and receivable, details about the vendors on those

Read More »

4 Key Areas SMB Lenders Can Improve with Better Financial Data

For too long, lenders have based small-business lending decisions on outdated data points such as FICO scores or tax returns. Unfortunately, this data is often skewed and inconsistent with the health and viability of the business. One of the most valuable assets for SMB lenders, however, is accurate, complete and current financial data. Without it,

Read More »

Financial Data – The Wave of the Future

Technological advances are changing the way lenders service the SMB market. With financial data sharing, lenders are now empowered to make better decisions and provide a better experience for business borrowers. It is truly a win-win. Leading the charge are the financial institutions currently leveraging Validis’ DataShare technology, a financial data extraction tool that acts

Read More »

The Pain Points of “Going Digital” with Data

The benefits of digitization are significant for both lenders and the SMEs they serve. However, for many institutions, “going digital” requires a shift from ingrained legacy processes which can present some challenges. We’ve split these challenges into two categories: technical and adaptive. Technical Challenges Data Access First, lenders must know how to access the data. Automation

Read More »

Dealing with Data Overload

Regardless of whether you are a product- or relationship-oriented SME lender (read our earlier post), data is essential for growth. True, the notion that “Data is King” is old news – every financial institution recognizes the importance of data and the power it has to transform their business. The challenge is that with so much

Read More »

Are You Leveraging the Right Data?

New data sets are paraded before the lending market constantly, each promising to provide all the information needed to understand customers inside and out. The individual value of these data types varies greatly, as does the level of automation required to access, filter and standardize it into formats that can be easily analyzed. But when

Read More »

Product vs. Relationship SME Lending

As SME lending strengthens and evolves, two categories of lenders have emerged: product oriented and relationship oriented. Product-oriented Lenders Product-oriented lenders offer SMEs a more transactional service. They are on-boarded efficiently and there can be very little personal contact between the SME and lender. The focus is on clarity of offer, value for money, efficiency,

Read More »

Four Factors Driving SME Lending

The commercial lending industry has undergone considerable change. With low interest rates coupled with a more stable financial environment, we’ve seen tremendous growth with new opportunities for both lenders and the businesses they support, particularly small to medium size businesses (SMEs). Overlooked in the last few years due to stagnant growth, SMEs are now considered

Read More »

Financial Data Sharing APIs

Small businesses are the backbone of the U.S. economy and present a big opportunity for financial institutions, particularly now. Despite years of sluggish growth, we’re currently seeing steady increases in entrepreneurship with signs of continued growth ahead. In fact, the NFIB Small Business Optimism Index soared to 108.8 in August – a new record in

Read More »

Taking SMB Lending From Inefficient to Effective

Historically, business lending has been riddled with manual, labor-intensive processes, taking anywhere from 35 to more than 120 days to complete. The process typically starts with the lender requesting a mile-long list of financial reports, including balance sheets and financial statements, bank statements, tax returns, accounts payable and receivable, details about the vendors on those

Read More »

4 Key Areas SMB Lenders Can Improve with Better Financial Data

For too long, lenders have based small-business lending decisions on outdated data points such as FICO scores or tax returns. Unfortunately, this data is often skewed and inconsistent with the health and viability of the business. One of the most valuable assets for SMB lenders, however, is accurate, complete and current financial data. Without it,

Read More »

Financial Data – The Wave of the Future

Technological advances are changing the way lenders service the SMB market. With financial data sharing, lenders are now empowered to make better decisions and provide a better experience for business borrowers. It is truly a win-win. Leading the charge are the financial institutions currently leveraging Validis’ DataShare technology, a financial data extraction tool that acts

Read More »

The Pain Points of “Going Digital” with Data

The benefits of digitization are significant for both lenders and the SMEs they serve. However, for many institutions, “going digital” requires a shift from ingrained legacy processes which can present some challenges. We’ve split these challenges into two categories: technical and adaptive. Technical Challenges Data Access First, lenders must know how to access the data. Automation

Read More »

Dealing with Data Overload

Regardless of whether you are a product- or relationship-oriented SME lender (read our earlier post), data is essential for growth. True, the notion that “Data is King” is old news – every financial institution recognizes the importance of data and the power it has to transform their business. The challenge is that with so much

Read More »

Are You Leveraging the Right Data?

New data sets are paraded before the lending market constantly, each promising to provide all the information needed to understand customers inside and out. The individual value of these data types varies greatly, as does the level of automation required to access, filter and standardize it into formats that can be easily analyzed. But when

Read More »

Product vs. Relationship SME Lending

As SME lending strengthens and evolves, two categories of lenders have emerged: product oriented and relationship oriented. Product-oriented Lenders Product-oriented lenders offer SMEs a more transactional service. They are on-boarded efficiently and there can be very little personal contact between the SME and lender. The focus is on clarity of offer, value for money, efficiency,

Read More »

Four Factors Driving SME Lending

The commercial lending industry has undergone considerable change. With low interest rates coupled with a more stable financial environment, we’ve seen tremendous growth with new opportunities for both lenders and the businesses they support, particularly small to medium size businesses (SMEs). Overlooked in the last few years due to stagnant growth, SMEs are now considered

Read More »
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