SMEs : UNDERSERVED ECONOMIC POWERHOUSES
This puts these essential businesses in danger of closing, while lenders are leaving multi trillion-dollar opportunities on the table. It seems like a win-win situation for SMEs and lenders, so why hasn’t it been seized? Historically, securing business loans from traditional financial institutions has been slow and difficult on both sides. Because determining creditworthiness and assessing risk for a business is more complex than it is for a consumer, the process is paperwork heavy, progresses at snail’s pace, and often results in low approval rates and high cost. Mix in regulatory standards, changing economic conditions, and evolving market demands - it can be hard for the typical provider to see an opportunity in SME lending. But with the introduction of advanced decisioning technology, powered by AI and a wealth of diverse data sources, SME lending has finally caught up with the times. Real-time SME lending is here. It’s fast, accurate, and accessible. And it’s making it simpler than ever for providers to catalyze and empower the enterprises we all rely on.
4
Made with FlippingBook Digital Publishing Software