bankingciooutlook

Curinos Forms Small Business Lending Consortium, Enabling Performance Evaluation And Opportunity Identification

Banking CIO Outlook | Wednesday, August 03, 2022

Curinos' LendersBenchmark® product suite's newest offering provides financial institutions with the most significant standards for effective analytics and decision assistance.

Fremont, CA: Curinos is the top source of data, tools, and insights that help financial institutions make better, more lucrative data-driven decisions more quickly. Curinos, the result of the merger of two well-known industry powerhouses, Novantas and Informa's FBX company, offers to market a new level of industry competence in deposits, lending, and digital experience solutions and technologies. Curinos is the partner of choice for helping you attract, retain, and create more profitable customer relationships by providing access to comprehensive datasets and analytics, intelligent technology, and integrated behavioral insights.

Curinos launched LendersBenchmark® for Small Business Lending. This first-to-market benchmarking platform gives banks immediate access to crucial originations KPIs for a consortium of small business lending participants.

"LendersBenchmark® for Small Business Lending presents unlimited potential applications to financial institutions as they address their small business lending offerings, a critical business growth area for banks," said Lindsay Burkhalter, Director of Consumer & Small Business Lending at Curinos. "Post-pandemic, small business lending opportunities have risen, with double-digit demand increases in both loan and line of credit products in 2022. As such, we developed this consortium to address how banks can identify opportunities to take their share of the demand."

LendersBenchmark® for Small Business Lending provides financial institutions with the performance data and market insights needed to manage their small business lending portfolios weekly. The tool lets banks evaluate competitive positioning and develop market optimization options for capturing market demand/bookings, price, cycle durations, and other metrics.

LendersBenchmark® for Small Business Lending is delivered through CurinosConnectTM, an easy-to-use Microsoft Excel 'add-in' that employs a robust user interface that provides:

○ Direct data access to selected Curinos datasets with its most recent benchmarks available.

○ A user-influenced roadmap of modifications to existing datasets, metrics, and the application user interface.

The solution is based on a "give-to-get" approach in which participating lenders provide Curinos with both origination and portfolio transaction-level data on a pre-scheduled basis and format. This information is then anonymized and made available through pre-formatted reports and cutting-edge data visualization tools. Lenders can then evaluate their competitive position, find market opportunities, and improve their market share, profitability, risk, and operational performance.

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