Is Digital Transformation Helping Small Business Borrowers? posted 10/16/2018
Featuring: Trevor Dryer, CEO and Co-founder, Mirador Financial
Digital transformation is a clear priority among top bank initiatives. But do these investments in digital transformation meet the needs of the small business borrower? What do small businesses expect their bank interactions will look like in five years? How will these changing expectations impact how borrowers seek out lending products? With over 30% of small businesses preferring to apply for a loan or line of credit via a bank's website rather than visiting a branch, there's an urgent need to transform the old loan application process by leveraging modern technologies to provide a frictionless experience.
Join Youa Yang, Digital Business Banking Program Director at Barlow Research Associates, and Trevor Dryer, co-founder and CEO at Mirador, in this special Mirador-sponsored complimentary 30-minute webinar designed to explore the dynamics between digital transformation and the future of digital lending.
• Metrics from Barlow Research's voice of the small business customer around digital transformation
• Current benchmark trends on loan applications/approvals and days to approve loans
• Why it's crucial to transform both the borrower and the lender journey
• How digitization enables banks to offer vastly improved customer experiences to SMB borrowers, reducing costs while increasing top-line revenue
• Which approach is serving the small business borrower best: rip and replace with an all-new bank operating system or invest in best of breed digital tools?
• Do's and don'ts for maximizing success in bank lending digitization
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