FICO

DECEMBER 18, 2018

There is an art to small business and commercial and industrial (C&I) lending. Underwriters across the financial spectrum of banks, credit unions, and independents do a great job of mitigating risk when dealing with large, complex lending requests. Smaller dollar loans are much different.

Small Business 53

Small Business Underwriting Credit Union Origination 53

PYMNTS

APRIL 17, 2020

small businesses hit hard by the coronavirus pandemic. Administered by the Small Business Association (SBA) and processed through financial institutions (FIs), including banks and selected FinTechs, the program offers small- to medium-sized businesses (SMBs) loans worth twice their monthly payroll expenses.

Small Business 59

Small Business Community Banks Non-Bank Payroll 59

PYMNTS

AUGUST 24, 2018

There are ways, however, that traditional financial institutions (FIs) still beat out alternative players, especially when it comes to the relationship between small business (SMB) owners and financial service providers. “It’s cool for us, because we have a better choice of who we get to work with in terms of customers.

Small Business 40

Small Business Federal Reserve Underwriting Finance 40

PYMNTS

APRIL 8, 2020

Small businesses overwhelmed U.S. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications.

FinTech 98

FinTech Small Business Credit Union Payroll 98

PYMNTS

MAY 30, 2018

Small businesses (SMBs) seeking loans decreased at the end of 2017, and companies felt the sting of financial challenges more acutely. Financing of all sorts was on the downswing, and SMB owners began dipping into their own piggy banks before seeking a lending agreement. In the 10 years following the financial crisis, the U.S.

Underwriting 46

Underwriting Small Business Federal Reserve Community Banks 46

Lending Front

JUNE 9, 2021

With the need for small business funding greater than ever, it poses the question: is it time to turn traditional parameters and criteria on their head? . But rethinking the underwriting process need not only apply to consumers. This type of reframing can also help open up credit access to small business owners that need it. .

Small Business 52

Small Business Federal Reserve Underwriting Credit Union 52

PYMNTS

MARCH 12, 2020

But the latest initiatives reveal a growing interest in transforming internal processes, particularly among smaller banks looking to upgrade their core infrastructure and elevate small business lending operations. Yes Bank Woes See API Disruption. Jack Henry Links FIs to AR Finance Offering. Yet maturation is low.

Payment APIs and Integration 77

Payment APIs and Integration API Small Business Underwriting 77

PYMNTS

APRIL 24, 2020

But for all the complexity, confusion and ongoing questions, Walker Insurance Agency CEO Larry Walker III said the PPP is an incredibly important contribution to the economy at large and community banks are absolutely critical in making that contribution possible.

Community Banks 70

Community Banks FinTech Underwriting Small Business 70

PYMNTS

AUGUST 10, 2020

Despite government initiatives to connect small businesses to capital as quickly as possible, the U.S.’s Even as small businesses are able to access capital, it’s often not enough to endure the ongoing market volatility and uncertainty. Traditional bank loans aren’t always easy to access, either.

B2B 52

B2B Finance Small Business Third-Party Service Provider 52

PYMNTS

AUGUST 4, 2020

The company, founded in 2009 by chief executive Rob Frohwen , ex-chairman Marc Gorlin and president Kathryn Petralia as a way to provide easy funding for small businesses, has aimed to provide amounts up to $250,000, along with underwriting and service loans. billion to 270,000 applicants.

Small Business 64

Small Business Underwriting Non-Bank Community Banks 64

Lending Front

MARCH 2, 2021

For small businesses, the “home” office may take on new meaning altogether. By not being tied to brick-and-mortar space, business owners can work out of their den, their mountain retreat, or a relative’s sunbelt condo. . For many small banks and credit unions, digital transformation isn’t a new concept.

Credit Union 40

Credit Union Small Business Underwriting Procedures 40

PYMNTS

APRIL 16, 2020

Accelerated data sharing has become a focal point for small business lenders and FinTechs looking to speed up the time it takes for SMBs to apply for and receive much-needed funding. This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K.,

Finance 67

Finance Payment APIs and Integration Cross-Border Payments Cross-Border 67

PYMNTS

JANUARY 30, 2019

In another statement, PayNet President William Phelan said the integration will allow bank customers to “save time evaluating a business’ credit status, and have high-quality data to make more accurate decisions. It’s a competitive advantage and increases access to much-needed credit for qualified small businesses.”

Risk 57

Risk Risk Mitigation Small Business Underwriting 57

PYMNTS

SEPTEMBER 18, 2017

The Consumer Financial Protection Bureau is preparing to collect data on how lenders work with women-owned, minority-owned and small businesses (SMBs), but the American Bankers Association (ABA) has expressed concerns over the initiative. Thursday (Sept.

CFPB 40

CFPB Small Business Request for Comment Underwriting 40

PYMNTS

APRIL 17, 2020

A digital-first mentality will become critical for FIs, a strategic imperative that offers smaller banks a chance to shine. The credit unions (CUs) and community banks, said Brown, are not just brokers of funds — they are now brokers of critical information.

Push-to-Card 114

Push-to-Card Credit Union API Underwriting 114

Fintech Labs Insights

AUGUST 30, 2016

Even with a 20-year track record in business and great personal credit scores, without that regular paycheck and W-2 documentation, it was maddeningly hard to get a new mortgage, refi, or even a car loan or credit card sometimes. Bottom line: One bank’s loss is often another’s gain.

Underwriting 18

Underwriting Small Business Returns Risk 18

PYMNTS

SEPTEMBER 18, 2018

We all know that lax underwriting standards came home to roost in this sector. A study from the Florida Atlantic University College of Business found that loans declined more at large banks than smaller ones. Mortgages and Credit Cards and Student Debt…. Mortgages ?

Innovation 59

Innovation Federal Reserve Credit Cards Economy 59

Fintech Labs Insights

DECEMBER 14, 2015

Four Finovate alums were among the bunch: CBANC Network took in $4 million for it’s community bank information network. Alt-lender to micro and small businesses. Market data communications platform. Tags: Insurance, mobile, underwriting, Startupbootcamp (accelerator). Rippleshot was given another $1.2

FinTech 17

FinTech Underwriting P2P Advisors 17

Fintech News

MAY 23, 2024

The Corporate and Wholesale Banking segment offers loans and banking services to corporate clients. The Retail Banking segment focuses on lending and other services for individuals and small business customers. #10 10 IndusInd Bank Founded by Srichand P.

Online and Mobile Banking 126

Online and Mobile Banking Treasury Non-Bank Finance 126

PYMNTS

APRIL 9, 2020

For the last week, a veritable tidal wave of small- to medium-sized business (SMB) owners have been lining up to apply for Paycheck Protection Program (PPP) funds — a $350 billion segment of the $2 trillion in government stimulus passed as part of the CARES Act a little less than two weeks ago. But will they? Edwards said.

Accounts 114

Accounts Small Business Governance Government 114

Finovate

JULY 31, 2024

Loan intelligence system company Parlay will join Mastercard’s Start Path Small Business program. Parlay’s technology complements a bank’s or credit union’s loan origination system to streamline and enhance small business loan processing. Parlay is one of eight companies selected.

Small Business 59

Small Business Visa Credit Union Underwriting 59

PYMNTS

JANUARY 20, 2020

Community banks are often the familiar faces of the financial services world, and when small businesses seek capital, their neighborhood financial institution can be a promising place to start. We’re trying to turn community members into community bankers,” he said, “and allowing them to vote with their wallet.”.

Community Banks 44

Community Banks Small Business Due Diligence Regulations 44

PYMNTS

JANUARY 27, 2021

Digital payment and banking technology provider i2c on Wednesday (Jan. 27) announced partnerships and product launches with Archa , Community Bank of the Chesapeake (CBTC) and Credit Sesame , according to a press release. The company wanted to solve the problem of banks not underwriting corporate cards for small businesses.

Product 111

Product Process Community Banks Small Business 111

FICO

MAY 6, 2020

The media has been giving banks a lot of bad press for how the Paycheck Protection Program (PPP) was handled. While small businesses are scrambling to obtain emergency funding, the COVID-19 crisis has exposed some of the shortcomings of the big bank system. The Piedmont Bank’s policy is “first come, first serve.”

Small Business 52

Small Business Community Banks Federal Reserve Automation 52

PYMNTS

APRIL 22, 2020

small businesses have been waiting on pins and needles for Capitol Hill to determine the future of the Paycheck Protection Program (PPP), and now they’ve gotten their answer. In less than two weeks, all of the money had been allocated to firms that had successfully submitted applications via their banking institutions – about 1.6

Small Business 94

Small Business Non-Bank Credit Union Returns 94