Validis is pleased to announce that we have been shortlisted in the category of Most Disruptive Financial Technology for the 19th Annual FStech Awards. This prestigious award celebrates excellence and innovation in the field of information technology within the UK and EMEA financial services sector. The awards are scheduled to be held on March 21, 2019, at the London Marriott [...]
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 [...]
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 [...]
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.
GRENKE Factoring provides flexible, fast and personal receivables management services for SMEs in the UK and Europe. Formed in the UK in 2013 off the back of strong growth in the German market, they set themselves the goal of providing quick and straightforward processing for their factoring clients – enter Validis! Read More...
For too long, lenders have based small-business lending decisions on outdated data points such as FICO scores or tax returns.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 [...]
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 [...]
Download your copy of this exclusive white paper and join the Open Banking discussion. Our new Open Banking whitepaper features Richard Davies (SME Banking Director at TSB) and Nick Vanstone (Director of Business Information Consulting at Experian) discussing: How far we’ve come with Open Banking in the UK The opportunity it presents for small businesses The additional value of complementary [...]
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 [...]
Whitepaper explores how automation in gathering and standardizing financial data leads to greater insights, effective decision-making and long-term profitability. AUSTIN, Oct. 8, 2018 – Validis, a pioneer of financial data sharing and standardization technology, published its latest whitepaper today, “The Data-Enabled Lender,” detailing how financial institutions can transform their SMB lending processes. For decades, lenders have based small business lending [...]