More and more, software-based solutions determine lenders’ profitability. Traditional lenders will not survive in the small business loan market without a renewed tech-driven focus on reducing transaction costs, accelerating decision cycles, embracing tech-touch, and expanding risk management tools.
Private equity’s investment in fintech has forever changed the small business credit landscape regardless of future U.S. economic trends. This white paper addresses future growth areas and how new financial technologies can harness them. Download to learn:
- What millennial borrowers demand from small business lenders
- How technology can help banks mine current borrower relationships
- Where technology can improve profitability, from reducing loan application costs, minimizing defaults and implementing risk-based pricing
- How marketplace lenders have entered the conversation and how you should compete