Two-thirds of small and medium sized business interactions with banks are digital, including 10+ online interactions and 3+ mobile interactions a month. So it should be no surprise that digital self-service and immediate response are top attributes in their choosing a bank.
This remains true when it comes to financing. From purchasing equipment to securing a bid, businesses are often in need of financing quickly to continue growing. They rarely have time to visit a branch and fill out pages of paperwork -- let alone wait days or weeks for a decision and funding. And if this is the experience their bank offers, you can be sure they will look elsewhere to secure financing.
Enter real-time lending, which digitally transforms business lending at banks and offers the fastest and most convenient way to secure financing in the U.S. With real-time lending, banks can capitalize on an untapped opportunity to acquire and retain increasingly digital-first businesses, increase growth and profitability of lending, and stand out from the competition.
We're proud to count bank technology leader FIS as both an investor and strategic partner in a joint-pursuit to lead banks through this real-time revolution.
For banks interested in offering a real-time lending experience to businesses and increasing the profitability and efficiency of their lending operations, our partnership offers additional benefits, including:
From deposit accounts to treasury services, businesses represent a large and important segment to banks. It's time to stop underserving them with outdated lending practices, and instead provide them with the digital convenience and speed of funding they need to grow and succeed.
To learn more about real-time lending with Numerated and FIS, reach out to us or visit: https://www.fisglobal.com/real-time-revolution.
Data source: FIS PACE Report (2018).