Financial Institutions Can Grow Small Business Relationships with Fintech-Powered Lending Offering from Fiserv

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Fiserv, Inc., a starring planetary supplier of payments and fiscal services exertion solutions, is enabling fiscal institutions to physique their tiny and midsize concern (SMB) programs done the motorboat of a cloud-based, integer lending and recognition platform.

The latest Fiserv offering, leveraging the Atlas Platform from fintech StreetShares, allows fiscal institutions to negociate the afloat lending lifecycle from integer papers capture, underwriting, connection absorption and closing – delivering against the expectations of some unit and customers. The level includes beardown analytics capabilities, automated decisioning insights and a streamlined, integrated tiny concern proprietor hub that makes it casual for fiscal institutions to marque and edit integer indebtedness offers.

Community fiscal institutions played a starring relation successful helping tiny businesses (SMBs) done the pandemic. Fiserv and StreetShares equipped galore fiscal institutions to present a seamless Paycheck Protection Program (PPP) acquisition from exertion done forgiveness, and galore of these institutions acquired caller SMB customers arsenic a result. The pandemic besides catalyzed the enlargement of galore third-party providers that are present competing with assemblage fiscal institutions for SMB relationships.

“In 2020, we were capable to fortify our tiny concern relationships arsenic we were capable to trust on Fiserv to assistance america conscionable the beardown request for Paycheck Protection Program loans much effectively,” said Richard Olson, SVP of Retail and Corporate Marketing at Envision Bank. “We spot large accidental successful continuing to service tiny concern lending needs, and successful leveraging this exertion to bash truthful much efficiently arsenic portion of our wide committedness to our clients to present an fantabulous experience.”

SMB lending represents a important accidental for fiscal institutions. Many are presently managing precocious deposit measurement and are looking to diversify gross portion providing much holistic offerings to SMBs and a increasing basal of gig system customers. As determination institutions and third-party providers prosecute much afloat successful this market, a digital-first attack is captious – peculiarly since 47 percent of tiny businesses person indicated that exertion has an outsized interaction connected their determination to enactment with an institution, according to Raddon®, a Fiserv company.

“Financial institutions are important to backing the superior needs of tiny businesses, which play an outsized relation successful ensuring the vitality of communities astir the country,” said Todd Horvath, caput of Account Processing at Fiserv. “The instauration of a turn-key, digital-first tiny concern lending and recognition level successful concern with StreetShares underscores our absorption connected creating the connections our fiscal institutions request to enactment competitory – each backed by our committedness to unfastened banking.”

“Small concern owners progressively privation a afloat integer banking experience, and assemblage fiscal institutions look unit to vie with some large banks and emerging fintechs,” said Mark L. Rockefeller, co-founder and CEO of StreetShares. “Fiserv and StreetShares empower assemblage fiscal institutions to support and turn their Main Street relationships – with beardown analytics capabilities, automated decisioning insights, and a streamlined, integrated tiny concern proprietor hub built into the Atlas Platform that marque it casual for assemblage fiscal institutions to marque 100 percent integer recognition offers.”

The Atlas Platform volition beryllium integrated with Fiserv core systems opening successful Q4 2021.

In a satellite that is moving faster than ever before, Fiserv helps clients present solutions that are successful measurement with the mode radical unrecorded and enactment contiguous – fiscal services astatine the velocity of life. Learn much at fiserv.com.

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