Numerated selected to provide a global, enterprise-wide, AI-powered Digital Underwriting solution to industry-leading multi-trillion dollar bank
BOSTON—Today, Numerated, the data-driven lending platform creating the fastest and easiest digital experience for business borrowers, announced a new milestone in its path to transforming the future of business lending with the recent signing of a Tier 1 Global bank.
Since announcing availability in December of 2021, Numerated has offered lenders a lightning-fast financial spreading and underwriting solution. Over the last 18 months, banks, credit unions, private equity, equipment financing, and other key verticals leveraging financial performance and debt analysis have realized the value of Numerated's industry-leading technology powered by OCR and AI machine learning to automate manual and mundane tasks.
After an extensive evaluation of all market-leading solutions, Numerated was chosen among four finalists for its ability to best meet the bank’s strategic needs. Leveraging Numerated’s technology will empower the bank's underwriting staff to make more accurate decisions faster, while maintaining portfolio returns inside of their risk policies and ensuring audit trail accuracy on every spread.
Moreover, the solution’s automated processing will drive further value by helping the bank maximize the productivity of their underwriting staff to manage global scale and rapid growth.
As Numerated continues to drive growth as an industry leader, an increasing number of financial institutions are taking advantage of the solution’s extensive API library to integrate into existing workflow platforms, extending the value of existing technology investments.
“Partnering with an organization of this size proves the true value of what we’re building at Numerated,” said Numerated President David O’Malley. “Institutions regardless of size are choosing Numerated, because of the shared vision we have for making business lending easier, faster, and more profitable. We’re excited for this new phase of growth and look forward to expanding our platform into more and more sophisticated markets.”
The announcement of this partnership follows another year of great recognition for the company. In the past 12 months, Numerated has been recognized as one of the fastest growing, innovative fintechs in the U.S. by the Inc. 5,000, Fintech Breakthrough, and Deloitte.
To learn more about Numerated, visit www.Numerated.com
About Numerated
Numerated transforms the way financial institutions lend to businesses making the process faster and easier. Banks and credit unions of all sizes leverage Numerated’s digital business lending solutions to exceed borrower expectations for convenience while driving significant gains in efficiency. The platform uses data to streamline originations and underwriting for business lending, from application to close. More than 500,000 businesses and 30,000 financial institution associates have leveraged the platform to process over $50 billion in lending, making Numerated the fastest growing fintech SaaS company on the 2022 Inc. 5,000. To learn more about how Numerated is transforming business lending visit www.numerated.com.
