The Validis French Connection

Validis Staff Interview by Sheena VanDeVanter When I first met Geraldine Peyer, Sr. Customer Support Specialist at Validis, I was immediately taken by her charming French accent.  Overhearing her on the phone was more like listening to lilting poetry than detailed technical support, something she provides to our clients on a daily basis. I recently had the pleasure of sitting [...]

2019-02-13T09:31:02+00:00Categories: Blog|

What’s Better Than Alternative Data? Accounting Data.

Today, we hear about newer, cutting-edge “alternative data” categories like social behavior. While these new data types certainly have value, accounting data can provide a deep level of insight into an SME, enabling lenders to offer higher value, personalized services to potential customers and build a satisfied, loyal client-base. The daily decisions and transactions a small business makes can determine [...]

2019-02-06T14:05:31+00:00Categories: Blog|Tags: |

How Financial Data Sharing APIs Are Helping Financial Institutions Support the Growing SMB Lending Market

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 the survey’s 45-year history, topping [...]

2019-02-01T13:24:05+00:00Categories: Blog|

Are You A Data-Enabled Lender?

We’ve all heard the expression, “Data is King.” To make effective decisions of any kind requires acquiring and analyzing data, and we can all agree that this is especially true for financial institutions. Yet, for decades, many have based small-business lending decisions on outdated data points such as FICO scores or tax returns. Even worse, that information is skewed and [...]

2019-01-30T10:57:40+00:00Categories: Blog|Tags: |

Traditional vs Non-Traditional Lenders – Who is Winning and Why?

In today’s commercial lending landscape online lenders continue to gain ground over traditional banks.  SMBs are hungry for capital and would often rather pay a high rate for a quick turnaround than a better interest rate and have to wait.  It’s all about time. A traditional business loan application starts by filling out a form.  The form may be online, something [...]

2019-01-30T10:58:48+00:00Categories: Blog|

Increased Profit + Lower Stress = Happy Customers and Banks

I like things that are easy. Who doesn’t? The 80/20 rule is one of those things. It’s easy to understand, but perhaps better yet, it applies across a such a wide swath of topics that I think it’s fair to say it’s universal. For instance, I’m pretty sure 80% of my gray hair comes from 20% of the stupid things [...]

2019-01-30T11:00:03+00:00Categories: Blog|

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 the survey’s 45-year history, topping [...]

2019-01-30T11:03:36+00:00Categories: Blog|Tags: , |

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 lists, as well as details [...]

2019-01-30T11:03:43+00:00Categories: Blog|Tags: , |

Put Yourself in the Seat of Your SMB Borrower’s Financial Controller

As SMB lending strengthens and evolves, financial institutions must look for ways to improve their process to not only be more efficient but also foster better customer experiences. The good news is that there are proven methods available to do so.

2019-01-30T11:03:54+00:00Categories: Blog|Tags: |

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, loan decisioning is at a [...]

2019-01-30T11:04:05+00:00Categories: Blog|Tags: |