international Launched the solution design It helps banks source, underwrite, and fund loans for small and medium-sized businesses (SMBs).
The new SMB digital lending solution was developed in partnership with Small Business Financial Solutions Technology Platform. LendioThe FIS said on Tuesday (July 16): press release.
“Partnering with Lendio allows us to empower financial institutions with our unmatched scale and reach in the banking industry, as well as Lendio’s advanced small business underwriting technology. Providing services that benefit small and medium-sized business customers“, Steve Sabin“The combination of blockchain and blockchain technology has allowed us to build a strong, scalable and scalable business,” said FIS Lending senior vice president and division head, in a release.
According to the announcement, the new service is FIS's first focused on small business loans and joins the company's existing solutions focused on consumer lending and large business loans.
SMB Digital Lending offers fully automated decision-making and loan applications with the aim of making lending to small borrowers profitable for banks and more affordable for borrowers, the release said.
According to the release, the Software-as-a-Service (SaaS) solution is cloud-native, API-driven and built to complement any financial institution's existing technology stack.
“Lendio's mission is to make small business owners' dreams come true by simplifying small business lending,” said Lendio's CEO and co-founder. Block Break The release said: “FIS' SMB Digital Lending Solution is a perfect fit for this mission as it enables banks to offer their small business customers a fast, easy and transparent lending process.”
FIS held a separate product launch event in May. Mobile Banking Application It features a simplified design, new fraud prevention features and upgraded functionality for financial institutions.
Also in May, the company Embedded Finance platform User It helps financial institutions, corporations, and software developers alike collect deposits, transfer funds, issue cards, send invoices, combat fraud, forecast cash flow, and better understand customer behavior.
In March, FIS partnered with a software company to launch a new product. Hierarchy To combat fraudulent card transactions. This collaboration uses FIS SecurLOCK. Card fraud Management solutions to detect and prevent fraudulent transactions.
For more PYMNTS B2B updates, visit our daily newsletter. B2B Newsletter.
