For many banks, small business lending suffers from poor customer experiences from difficult application process, lack of transparency, and slow speed of decisions. These are the result of one-size-fits all legacy origination and underwriting procedures designed for larger loans. The result for small business lending is inefficient processes with low throughput that miss opportunities to cross-sell and can lead to operational and regulatory risk exposure.
Cloud Lending Solutions’ comprehensive loan origination platform enables banks to accelerate the small business loan origination process while effectively managing credit and compliance risk. From the submission of the application through generation of pricing, CL Originate manages the application, credit evaluation, scorecards and approvals for small business loans.