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.

2018-12-06T12:37:28+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For too long, lenders have based small-business lending decisions on outdated data points such as FICO scores or tax returns.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 [...]

2018-11-27T12:32:09+00:00Categories: Blog|Tags: |

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 as a data pipe between [...]

2018-11-07T10:49:32+00:00Categories: Blog|Tags: , |

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 is the goal, but solutions [...]

2018-10-30T05:07:25+00:00Categories: Blog|Tags: |

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 data available, it can be [...]

2018-10-04T14:54:02+00:00Categories: Blog|Tags: , |

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 combined, these data sets can [...]

2018-10-10T10:09:30+00:00Categories: Blog|Tags: , |

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, ease of use and speed. [...]

2018-09-17T08:46:24+00:00Categories: Blog|Tags: , , |

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 an important factor of the [...]

2018-09-17T08:45:19+00:00Categories: Blog|Tags: , , |

Data Standardization Technology

Data is a key resource – if not the resource – that powers modern business. Yet, unless it is in a homogenized package, its benefits are limited, thus limiting what industries – especially the accounting and lending industries – can achieve for its clients. The power of data is well known.  However, full adoption has been slow, despite the indisputable [...]

2018-09-17T08:42:42+00:00Categories: Blog|Tags: , , |

Why Data is the Cornerstone of the Future

Oil is Out – Data Now Fuels the World A recent Economist1 article likened data to oil, highlighting how – like oil – data is a power that dictates so much about how our modern world functions. And, as we frantically attempt new ways to access oil, we also tirelessly attempt ways to assert ownership over data in order [...]

2018-09-17T08:41:03+00:00Categories: Blog|Tags: , , , |