What is Real-Time Lending?
Real-time lending is the automated credit decisioning and funding of loans online, often instantaneously. The backbone of real-time lending is technology that allows banks to digitize their credit policies and provide customers with a convenient online application and the value of immediate account funding.
Real-time lending transforms traditional execution of loans by leveraging intelligent automation and data science. What once took weeks of manual front-office selling and back-office underwriting resources can now occur in minutes.
Why Real time Financing?
Save Time & Money
Control your business finances in real time smart dashboard, so in a single dashboard you can see your operation expenses, sales, revenues, etc
Organize your Bills
Use your debit or credit card to pay your bills and track your expenses with a single click
Security Protection
Protect your identity and your all types of any financial data through our complex secure system
Live Notifications
Check your transactions and balances in real-time and you'll get instant notifications for any single move in your accounts
Benefits of Real-Time Lending for Banks
With traditional lending, the same resources and costs are required to close a $50K loan as a $500K loan. Real-time lending both removes costs and increases pricing, transforming small business lending into a lucrative growth driver.
Manual lending takes weeks of inefficient and costly front- and back-office resources. Real-time lending executes credit policies in minutes—all without sacrificing a bank’s credit standards. In addition, banks using real-time lending have proven they can increase pricing based on the convenience it offers to customers.
Digital access is now table-stakes for banks, and on-demand services are transforming every aspect of business and consumer life. Real-time lending allows businesses to secure financing online anywhere, anytime.
Millennials and GenX, the largest lifetime value segments for banks, grew up with the Internet and increasingly expect services on-demand. Real-time lending attracts these business owners, establishing a foundation as long-term customers.
Real-time lending ensures uniform credit decisioning without inconsistency or subjectivity, all while providing credit officers the flexibility to price by segment and make changes in shifting economic environments.
Real-time lending powers more than just online applications. From in-branch and over-the-phone conversations to remote visits, bankers can walk businesses through the online application process to speed loan funding to minutes.
Business lending has become increasingly crowded with alternative financing options. Local banks can offer defensible differentiation by coupling advantages in their community relationships and high satisfaction scores with real-time lending’s convenience.