The backbone of the community bank is customer relationships. However, the local knowledge and long-standing relationships that customers value are being threatened by online lenders and national banks promising better service and lower costs. In today’s competitive environment, financial innovation is critical if community banks are to retain their loyal customers. Community banks must maintain their “customer first” advantage by creating products and services to harness the power of technology and address the changing preferences of customers. Forward-looking community banks leverage cloud technology to:
A complete view of your customer to build better relationships
Lower costs for small business lending to stay competitive
Innovative, competitive online experiences
Rapidly launch new products and adapt to compliance changes, including tracking covenants and monitoring customer status
With Cloud Lending Solutions, community banks can put their customers first as they leverage cloud technology to establish complete, 360-degree view of the customers. Our cloud-based solutions reveal the financial status of each client and provide the insight you need to seize new opportunities and intelligently expand. Your customers will appreciate having online tools that make lending easier and more efficient.
Small Business Lending (SBL) is an area where community banks have traditionally excelled. However, new competitors are promising a better user experience and lower costs with online lending tools. This is driving many community banks to use cloud technology to streamline their origination, underwriting and servicing so that smaller loans can be more profitably made. For cloud technology to be successful in community banks, it needs to both improve the borrowing experience and, more importantly, help leverage customer relationships.
Cloud Lending Solutions is focused on keeping SBL in community banks a competitive advantage by digitizing the borrowing experience and strengthening customer relationships. Through Cloud Lending Solutions’ online loan origination, we can help you build a borrowing experience that will delight your customers. Our approach can help automate where necessary allowing you to focus on providing great customer service. Our 360 degree relationship portals can help you be more proactive with your customers and uncover new opportunities.
Community banks' most popular line of business is Commercial Real Estate (CRE) with nearly 74 percent of community banks offering CRE loans. Knowledge of their community and business environment makes CRE a natural fit. To maintain this advantage against new entrants in the market, community banks need to leverage customer knowledge as well as provide an excellent borrower experience. This is where Cloud Lending Solutions can help.
The CLS solution delivers simplicity to commercial real estate lending, replacing legacy systems and manual processes with innovative cloud technology. Our lending solutions help you digitize back office processes, while workflow automation ensures process compliance for complex CRE loans. A centralized lending portal allows all authorized parties to share information, remove bottlenecks, and make faster decisions that reduce risk. Our customer relationship portal not only helps you understand your current customer relationship but also uncovers new business opportunities.
Commercial and Industrial (C&I) loans are relationship driven loans responsible for about 15 percent of a community bank’s business. These short-term loans have their unique challenges with complex and lengthy underwriting that is based on manual or obsolete legacy systems. Competition for these loans is growing from more nimble alternative finance companies. Community banks need to respond to this competitive pressure with new lending tools and approaches to maintain their competitive advantage.
Cloud Lending Solutions can help community banks maintain their leadership in C&I loans by streamlining origination and providing innovative underwriting and servicing. Our lending solutions can help you digitize back office processes, while workflow automation ensures process compliance for C&I loans. A centralized lending portal allows all authorized parties to share information, remove bottlenecks, and make faster decisions that reduce risk. Our customer relationship portal not only helps you understand your current customer relationship but also uncovers new business opportunities.
“Cloud Lending Solutions allows us to automate the entire leasing process, on a single system, from evaluating financial applications through servicing, collections and asset disposal. Leveraging the salesforce.com platform allows us to lower our operating costs, speed time to market and maintain strong relationships with our customers as we improve their overall experience.”
“Neyber’s mission is to create workplace communities that enable employees to borrow and save together at fairer rates. We set out to reduce the indebtedness of the UK workforce, and in turn, to increase staff engagement and productivity. In combination with our own proprietary technology, Cloud Lending Solutions’ platform will support the growth of our business and enable it to fulfil this mission.”
“Harmoney is not a bank or a finance company. Harmoney is a technology enabled financial marketplace that needed a robust receivables platform that was flexible, cost efficient and quick to implement. Cloud Lending allowed us to break away from legacy systems and reduce our time to market to a fraction of other alternatives.”
CEO and Founder, Harmoney
“With Cloud Lending Solutions we reduced an anticipated 6 to 12 month development cycle to less than 3 months. This dramatically changed our go-to-market strategy and helped us connect with consumers more quickly. Cloud Lending was the only end-to-end solution built natively on Salesforce – a strict requirement in our platform architecture. Throughout our partnership, Cloud Lending has been attentive to our needs, which has made it possible for us to deliver a reliable and secure cloud-based alternative to bank lending in less than 90 days.”
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