From the PR Release:
At ICBA LIVE, Rapid Finance has announced a significant enhancement to its Decisioneer loan origination software – seamless, one-button integration with the trusted Rapid Finance Funding Network. This powerful enhancement now unlocks new non-interest income streams for community banks when effortlessly referring loan applications that fall outside their lending criteria.
With increasing competition from larger banks, community financial institutions need ways to streamline their SMB lending and retain their small business customers. Rapid Finance’s LOS not only improves loan origination and underwriting, but now also gives FIs one-click access to an extensive funding network to expand non-interest income opportunities for loan applications that fall outside of their existing loan requirements.
Rapid Finance’s Funding Network is a vast network of trusted lenders who are skilled at client service and small business growth. Now, with a single click in Decisioneer, community can refer loan applications to this network. When funded, the bank earns non-interest income, transforming declines into revenue opportunities while empowering their small business customers.
With 20 years of experience in small business lending, Rapid Finance is a trusted partner for financial institutions looking to scale their lending programs. By combining its LOS, Decisioneer, and the Funding Network, FIs can:
- Compete more effectively – Offer SMB borrowers a streamlined, digital lending experience and opportunities when compared to competition.
- Automate and accelerate SMB lending – Simplify application intake, streamline decisioning and approvals with integrated fraud prevention, KYC, KYB and credit scoring.
- Enhance borrower experience – A fully digital, white-labeled solution that simplifies document collection, verification and storage loan processing.
- Reduce costs and improve efficiency – Automate workflows, minimize manual processes and instead strengthen relationships with your business customers by adapting to their evolving needs
- Expand revenue opportunities – Seamlessly refer applicants outside their credit criteria to the funding network with one click and boost their non-interest income.
