Applying AI to SMB Lending – The Foundation

Artificial Intelligence (AI) is a much talked about phenomenon these days.  Our sense is that for most people it is still a fairly abstract or esoteric idea.  We thought we would spend some time breaking it down, specifically as it relates to small business lending. Let’s start with a primer Artificial Intelligence is the science…

Interior Savings Credit Union Partners with JUDI.AI to Transform its Small Business Loan Portfolio

[Vancouver, B.C., Canada – December 3, 2020]: Interior Savings Credit Union (“Interior Savings”), one of Canada’s leading credit unions, announced today that in partnership with JUDI.AI, it has launched a digitally automated lending solution for small business banking members. The JUDI.AI solution enables current and prospective Interior Savings members to easily apply for a small…

The SMB Lending Landscape Today

On average, small and medium business (SMB) owners have less than one month of cash buffer[1]. So when a new opportunity comes around to invest in expanding–or additional cashflow is required to sustain the business through a dry spell–SMBs apply for a loan in order to keep the business running.   Most small business loans…

Yes, Canada, Open Banking is Working in Britain

A new article from the Globe and Mail highlights how open banking is working in Britain, noting benefits already observed and one very important lesson learned Canadian lawmakers should take note of.  If you want to skip our summary and read the whole article, click here. And, if you don’t subscribe to the Globe and Mail, don’t…

Lending to the Gig Economy: 3 Key Things To Note

Lending to the gig economy doesn’t have to be difficult! In this post you can expect to learn: What is the gig economy? What are the needs of these workers? How you can innovate your lending practices to accommodate this group. The gig economy is growing The gig economy is steadily growing with no signs…

How to Keep your SMB Loan Book Profitable

Making an SMB loan book profitable  You can grow a profitable SMB loan book quickly and efficiently, but you have to be prepared to change your processes if they aren’t already automated. Expectations around the customer journey are constantly evolving. As a result, consumers now expect instant gratification in the services they receive from institutions…