Resources

The benefits of a cloud-based approach to SMB lending software.   In the first blog of this series, we looked at how innovation in small or medium business (SMB) lending helps credit unions and community banks acquire and grow small business relationships. The second blog focused on efficiency gains and the concept of an all-the-time…

Turning the Annual SMB Loan Review Process into an All-the-Time Review Process. In the first blog of this series, we focused on how innovation in SMB lending will help credit unions and community banks acquire and grow small business relationships. Part 2 of this series will focus on the annual loan review process, and how…

Acquiring and growing small business relationships.   These next few blogs are meant to help credit unions and community banks build out an undisputable business case for making innovation in small to medium-sized business (SMB) lending a top 2021 priority. We’ll start by exploring what it takes to acquire and grow SMB relationships – and…

In a previous post, we discussed what is Artificial Intelligence, and how it relates to SMB lending. We honed in on the importance of properly framing your business problem, and avoiding common mistakes such as the “answer in search of a problem”. To summarize, there is not doubt AI is useful to address many well…

Cash flow data derived from bank statements has become an imperative input to SMB lending. In our previous blog, we argued that the use of cash flow data extracted from bank statements has come of age. Why has this happened all of the sudden? It is new AI and machine learning approaches that have made this existing but under-utilized data source more…

The challenges in small business lending are well documented.  And they just got a lot bigger. Small business – and related lending – is a huge segment of our economy and credit landscape.  But – amounts are small, information is opaque, making the economics challenging and the customer experience prone to disruption.   Risk of business…

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…

2020 was a crazy year There is no need to belabor the point with superlatives.  However, some usage data from across the JUDI platform is quite interesting: In April 2020, (as the economy was grinding to a halt and small business lending was being nationalised in both Canada and the US), application volumes fell by…

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…

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…

Digital transformation has made headline news across many financial publications and the message is always the same: FI’s beware! Embrace digital transformation or risk becoming irrelevant. However, the digital transformation of any financial institution is a BIG job and there are so many FinTechs out there…so where should you begin? At JUDI.AI we equate your…