Beyond Digitization ? Providing a Better SMB Borrower Experience

• May 28, 2023
• By Joel Curry

The concept of innovation within lending is not a new one; online lenders emerged in the ?90s, virtually as soon as the Internet became mainstream. There have been numerous waves of innovation within the industry: cloud-based lending platforms, paperless underwriting workflows, and analytics tools to name a few. Historically, much of the innovation in lending has revolved around automating manual processes and moving paper-based processes online, rather than implementing tools that focus on the sharing and standardization of critical data. In many cases, lenders? online experiences ended up following the same flow as their offline ones, often displaying inefficient processes instead of optimizing them. Banks lacking the technology to properly share and standardize financial data experie...

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