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FIS Launches SMB Digital Ling to Accelerate Small Business Loan Processes
July 16, 2024 FIS NYSE: FIS, a global leader in financial technology, is proud to unveil its innovative new digital ling solution for small and medium-sized businesses SMBs. In collaboration with leading small business finance platform Lio, this solution simplify of securing loans for SMBs by providing streamlined services to banks. It represents FIS's first dedicated portfolio offering tlored specifically for the needs of small and medium enterprises, complementing its existing solutions that cater to consumer ling and large corporate loan segments.
Steve Sabin, Senior Vice President and Division Executive at FIS Ling, highlights the significance of this launch:
By partnering with Lio, we are leveraging our unparalleled presence in the banking industry combined with Lio's advanced small business under. This partnership empowers financial institutions to efficiently serve their SMB customers by making loan origination processes profitable and manageable. The enhancement of our digital banking capabilities underscores FIS's commitment to support every aspect of money management - whether it's resting, moving, or at work - and we look forward to witnessing the positive outcomes this solution will bring.
Why SMB Digital Ling is Essential
SMBs are fundamental contributors to the American economy, accounting for 43.5 of GDP and nearly half of all employed workers in the US. However, traditional loan underes often involve lengthy documentation procedures and manual reviews that can be costly and time-consuming for both banks and businesses, especially considering high interest rates. This results in a challenging environment where SMBs may face prohibitive expenses when pursuing bank loans.
How SMB Digital Ling Functions
SMB Digital Ling is built on cloud-native and API-driven SaaS technology to automate decision-making and facilitate loan origination processes for smaller borrowers. By integrating large-scale data science, , and market-leading underwriting expertise, the solution assists banks in sourcing, underwriting, and funding loans of varying sizes efficiently, ming to make them more affordable for the borrower.
The embedded analytics within the platform generate a comprehensive view of borrower health, enabling pre-qualification of SMB depositors and targeted marketing efforts. Additionally, financial institutions interested in acquiring new customers may benefit from connections with FIS's direct marketplace and embedded ling relationships.
SMB Digital Ling is designed to complement existing banking technology stacks, including loan management solutions by FIS and other providers, ensuring a seamless integration for enhanced digital customer experiences tlored for small businesses.
Partnering with FIS allows us to expand our mission of fueling the dreams of small business owners through simplified ling, shares Brock Blake, CEO and co-founder of Lio. Together, we are creating a win-win situation for banks and SMBs by offering them fast, easy, and transparent loan processes that can accelerate their growth potential.
Learn More
This innovative solution is accessible to financial institutions of all sizes, from community banks and credit unions to larger banking organizations worldwide. Whether you're headquartered in the United States or elsewhere globally, FIS has a tlored approach to meet your unique needs.
To learn more about how SMB Digital Ling can enhance your operations and support your customers' growth, visit our website at FISglobal.com, connect with us on LinkedIn, Facebook, Twitter, Instagram, and YouTube, or contact our dedicated team through the link below.
Let's work together to reach new heights in delivering financial solutions that matter most.
Contact us now:
Headquarters
Jacksonville, Florida United States
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SMB Digital Lending Solution by FIS Simplifying Small Business Loans Processes FIS and Lendio Partnership Highlighted Cloud Driven API SaaS Technology Accelerating Growth for Small Businesses Affordable Financing Options for SMBs