Scale Growth With Scored Business Lending
Use data and business rules to automate loan decisions. Scale lending and keep your teams focused on larger, more complex deals.
Close More Loans and Help More Businesses
Make consistent, risk-informed decisions for smaller loan requests to provide more resources to small businesses in your community.
Automate Loan Decisions
Move quickly to stay competitive without taking on unnecessary risk.
Focus on Borrowers’ Needs
Get funds into the hands of borrowers when they need it.
Handle Complex Deals
Reduce the processing cost on lower dollar loan amounts.
Helping Institutions Help Business Owners
Automate Decisions
Make automated loan decisions to scale business lending and get answers to your borrowers in days, not weeks.
Improve Decisions With Machine Learning
Connect data and processes to make informed lending decisions that drive growth without taking on unnecessary risk.
Scale Up Loan Volume
Grow your portfolio but not your costs. Process more loans and meet increased demand without increasing headcount.
Grow Your Market Share
High income households are often small business owners. Help more businesses to grow your wallet share and market share.
Speed and Consistency with Flexibility
Get a faster “yes” or “no” or take a closer look at requests that fall in the gray area based on your risk tolerance.
Balance Risk and Growth
Control your risk while driving loan growth with business rules that embed and automate your credit decision criteria.
Digital Banking: Maximizing Technology to Meet the Convenience Demands of Consumers and Small Businesses
Data-Driven Decisions
Increased Capacity for Growing Portfolios
Growing the portfolio by scaling processes and decision capabilities.
Scaled growth
Partners in growth
Steady loan growth
Resources for Scored Lending Success
Learn about benefits of scored small business lending.
Frequently Asked Questions
Top questions about automating business loan decisions
What are the benefits of scored lending for financial institutions?
Scored lending offers numerous advantages for financial institutions, including streamlined loan processing, improved risk assessment, and enhanced decision-making efficiency. By leveraging data analytics and automated scoring models, institutions can evaluate loan applications more quickly and accurately, reducing processing time and operational costs.
What types of loans can be decisioned with scored lending?
Scored lending is ideal for various types of business loans, providing financial institutions with a versatile tool to increase loan volume and capacity. It can effectively decision several types of loans such as lines of credit, equipment financing, and working capital loans. With sophisticated scoring models and data analytics, institutions can customize their scored lending strategies to meet the unique needs of different business profiles and loan categories.
What role does the CFPB 1071 rule play in scored lending for financial institutions?
The CFPB 1071 rule requires financial institutions to collect and report data on small business lending, promoting transparency and fair lending practices. Compliance with this rule enhances the credibility of financial institutions and provides valuable insights into lending patterns. Scored lending supports 1071 compliance by providing a standardized and objective evaluation of loan applications.
In what ways does scored lending enhance efficiency for financial institutions?
Scored lending enables financial institutions to operate more efficiently by automating processes, reducing operational costs, and mitigating risks. It also allows institutions to make quicker and more informed decisions, improving customer experiences and increasing market competitiveness.
What impact does scored lending have on the overall loan portfolio?
Using data-driven scoring models, financial institutions can make more accurate assessments and better manage their loan portfolios. This approach increases the likelihood of timely repayments and decreases default rates, leading to a healthier and more profitable portfolio.
What scores can be used to automate loan decisions?
Small business scored lending integrates automated credit scoring models that leverage both traditional financial data and external data sources, speeding up the underwriting process, while providing a consistent approach to decisioning. We leverage FICO SBSS and also Experian IPv2 scores.
