Rebuilding your small business lending process isn’t just about the technology
After reading fortune.com’s article “Why Theo Epstein and the Cubs are Fortune’s MVP’s This Year,” I was struck by the similarities I see with financial institutions struggling to rebuild and digitize their small business lending strategy. They know they need technology to grow the business but can forget it’s truly about the players, both borrowers and lenders, on the field.read more →
Filmed at Acquired Or Be Acquired 2017 Conference in Phoenix, AZ, with the Bank Director team, Chris Rentner, CEO of Akouba, talks about the digital transformation happening now, why banks should explore Fintech partnerships, and what small business customers expect from their bank.read more →
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Akouba, a provider of an origination and underwriting platform for small business loans for community financial institutions is pleased to announce that it has been selected from over 8,500 startup applications by Plug and Play Tech Center to participate in a 12-week accelerator program. A total of 21 FinTech companies were selected for the 2017 cohort and each 12-week program includes business development, investment pitches, and extensive networking with Plug and Play's corporate partners, VCs, and mentors. These advantages require no equity from participating startups.
Filmed at Acquired Or Be Acquired 2017 Conference in Phoenix, AZ, with the Bank Director team, Mike Dillon, National Sales Director of Akouba, talks about what type of fintech lending solution should your bank pursue. Mike outlines what managementread more →
Akouba’s digital lending solution has been endorsed by the American Bankers Association – through its subsidiary the Corporation for American Banking. Akouba’s solution provides community and regional banks with an origination and underwriting platform for small business loans.
“In a rapidly changing lending environment, and with marketplace lenders disrupting the business lending space, our platform will help banks bring their customers the technology they have been lacking,” said Chris Rentner, CEO, Akouba. “The ABA’s endorsement will give lending institutions the assurance that Akouba’s solutions meet the highest standards.”read more →
Akouba was announced as one of six fintech startups that will be part of their HiPo Network this morning. The FIS HiPo (short for “high potential”) Network is a collection of firms that have demonstrated substantial promise in the development of new tools and technologies that deliver purposeful innovation for our clients around the world.read more →
In addition to providing technology for online applications, we also provide technology for banks to internally streamline the process.
Once an application is submitted through our online application portal, Akouba starts to build a story around the business. Our small business origination platform is designed to let you see the who, what, why and where of the business that is applying. We use information from the application and suppliment it with 3rd party data then point out areas that need your special attention.
Once you know the basics of the company, your underwriters can go into the financial analysis that manifests on our system as a credit risk rating. This is simply the organization of the factors that you are usually looking at into. What we call dimensions, often times they are referred to the 5 c’s. Your bank has complete control over what these dimensions are and the weighting of them for the overall score that is assigned to the application.read more →
As a user experience expert, I have the opportunity to speak to small business owners through interviews, surveys and casual conversations. There's is a common statement that I hear from so many owners:read more →