White paper: SME lending – the road to real-time approvals
It’s a world of instant everything – why should SME loan approvals be any different?
SMEs are often seen as the foundation of the economy – driving growth, building competition and creating jobs – but they are frequently at the end of the line when it comes to securing fast access to credit. Typically, securing business loans from traditional financial institutions is a long, arduous process: paperwork heavy, slow to progress and often resulting in low approval rates.
But as an SME lender, it can be difficult to maintain your risk appetite while supporting customers with rapid access to funds. With its high risk and high costs, traditional banks may shy away from SME lending. But innovative lenders who step up to the take on the challenge need solutions that drive risk strategy innovation – the ability to make changes in minutes, deploying sophisticated credit models, and accessing the right data at the right time.
In this whitepaper, we explore the four key components needed to build world-class lending experiences, including:
- Quick and easy applications
- Automating processes for real-time approvals
- Lowering origination costs
- Rapidly adapt processes to comply with evolving regulations
- Predictive analytics to keep risk in check
Discover how rapid innovation, smarter decisioning and faster approvals can be yours. Increase loan approvals without increasing risks and make smarter decisions, faster.