digital banking and lending solutions for communities
TRANSCRIPT
Digital Solutions for Communities
Key Challenges Facing Community Banks
Laying the Foundation for Digital Lending
Customer engagement models mean “life or
death” for banks.
Non-banks offering “banking” products
Share of wallet & new customer acquisition
are more costly.
We see 3 trends that are creating an imperative for banks to move to digital lending in 2017.
New channels to acquire and engage customers, result in more opportunity and competitive threats.
Losses greater than 50% of all New Potential Members
Non-banks offer a range of “bank products”, including deposit, borrow and commercial financing options.
Experts suggest non-bank lending will become a Trillion-Dollar industry by 2025.
Meanwhile, branch banking is the LEAST profitable method of customer engagement.
Migrating Branch Activities to Self-Serve Channels is KEY to Long Term Profitability.
As the Average Cost of a Branch Transaction Skyrockets
Banks must migrate to self-serve channels and boost profitability, or face threats of closure, or amalgamation.
Total Banks & Credit Unions 1985-2015
Small banks are under constant threat
by their larger counterparts.
Communities suffer as banks move away from unprofitable market segments.
ChoiceBnq# makes community banking more profitable, customer-centric & secure.
Banking without Walls is Here.Digital Lending by ChoiceBnq#
Apply EVERYWHERE
Fulfill EVERY TIMEDecision EVERYONE
Secure EVERYTHING
Digital Lending Design for Community Banks
Apply Everywhere 3-step application process for consumers and businesses Omni-channel out-of-the-box Borrower alone, or account manager assisted In-branch, at home, at the ATM or “on-the-go” “No-barriers” applications; new or existing customers get
the same “1-step” experience Multi-product application support
Decision EVERYONE Lenders can use the broadest set of criteria to make sure
they support ALL desired customer types– 500+ underwriting variables from Tier 1 reporting agencies
Matching engine offers IMMEDIATE answer;– Approved; offer ready to accept– Pre-approved; with more information required– Declined; alternate offers if available
Insured products offer automated government paperwork creation (CSBFP and SBA)
Support for all major types of credit products; consumer, small business and commercial
Fulfill EVERYTIME Direct account management through secure personal
communication dashboard and private chat Account management portfolios and dashboards White label customer service option Multiple product fulfillment methods and multi-tier approval
workflows Digital loan files
Secure EVERYTHING SAAS application built on Microsoft Azure 128 bit encryption True white-label SAAS solution Token-based security Audit-ready, compliance prepared Digital underwriting management Data integration to core banking systems Centralized Reporting and Review Portal
The Result? Digital lending done right.Engagement, profitability, success.
Immediately increase acquisition of customers and opportunity.
Omni-channel
engagement =
100% Member
Opportunity
Lower cost of acquisition up to 80%, + standardize cost of lending = more profit, better IRR.
Reduce Costs, Increase Net Income
Technology is a strategic enabler.We get you into the market in weeks, not years.
- Temenos
Technology investment (by banks) skyrocketed from fourth priority in
2014 to first priority in 2015.-Temenos
Our exclusive service model was designed to work with your existing processes, and get you online in weeks.
Four Weeks to Launch
