Why Innovative CDFIs Choose TurnKey Lender for End-to-End Lending Automation (With 4 Real-Life Business Use Cases)
By mid-June 2020, nearly half of all US-based, black-owned businesses — around 400,000 companies — had closed because of the coronavirus pandemic. That’s from a report by the Stanford Institute for Economic Policy Research. “Some of those businesses have come back, but a lot haven’t and never will,” says Alisa Joseph, director of programs at the US […]
How the Confluence of Covid, Seasonality, and Technology Boost Franchise Financing
If the last year has taught businesses anything, it’s how costly disruption can be. Beyond the pandemic, however, there are whole industries subject to periodic disruption in the form of seasonality. Think tax preparers, ski lodges, marinas, lawn services, even food trucks, and you’ll have the idea. And just as governments around the world rushed […]
Lending Technology Is Smashing Through Stricter Know-Your-Customer Rules
The Biden administration plans to boost financial-crimes enforcement by $64 million this year for an annual total of $191 million. This 50% spending increase is aimed squarely at the rise in recent years of “illicit actors” — including mobsters, terrorists, and corrupt politicians— who exploit “loopholes in financial-reporting requirements.” Though many of these shady players patronize […]
Why Everybody is Talking About Lending Technology These Days
The 2020s were already destined to be a time of profound change for businesses, but Covid-19 clinched it. Just weeks after the World Health Organization declared the coronavirus pandemic in March 2020, businesses began accelerating uptake of hardware as well as conferencing and work-sharing software to support employees suddenly required to work from home. Meanwhile, […]
Factoring, Invoice Finance, and Other Debt Financing Options as a Business Opportunity
Pretty much any business faces cash flow interuptions at some point. Often the reason is that it takes up to several months to receive the funds due from the customers. Obviously, suppliers want to receive money as soon as possible to reinvest, work on further streamlining their business, and simply pay their bills. That’s where […]
Elena Ionenko Interview for Pymnts: Banks Brace For New Competitive Forces In Commercial Lending
Though traditional financial institutions have faced a surge in market pressure to digitize as new FinTech competitors emerge, there are still plenty of areas in which banks hold the upper hand, commercial lending included. Beyond the fact that many institutions are decades — or even centuries — old, with long-lasting customer relationships and brand awareness, […]
In-depth Guide to Digital Lending Cybersecurity in 2021
In 2020, Interpol reports a 569% growth in malicious registrations, including malware and phishing, and a 788% growth in high-risk registrations. And it’s just the ones that were detected and reported. And since the trend toward the migration of businesses online, the potential for increased financial benefit will see cybercriminals continue to ramp up their […]
How to Make your Bank a Digital Winner in a Post-Covid Economy
Early in 2020, just weeks before the coronavirus closed businesses around the world, news articles on bank digitalization underlined shareholder impatience with financial institutions for “betting billions of dollars on digital transformations they hope will catapult them to higher growth rates in the 2020s,” and for “spending wildly on the latest tech.” What a difference a pandemic […]
Capital-Equipment Financiers: Boost The Value Of Your Best Clients With Dynamic Leasing
As a capital-equipment provider, you know that most marketing seeks to attract new customers. But the serious business of appealing to customers shouldn’t stop once they’re through the door for the first time, whether the boundary in question is real or virtual. The point of encouraging return business is embedded in something called “customer lifetime […]
TurnKey Lender’s Digital Lending In 2020, A Year In Review
The year 2020 was a study in cause and effect. While the coronavirus outbreak became a full-blown pandemic, measures to slow the disease’s spread caught on, in some cases triggering technology upgrades years earlier than planned. Before we zero in on advances in uptake and functionality regarding lending technology, let’s put the year in perspective. […]
Introduction to Factoring & Invoice Financing for Your Digital Lending Operation
Running a small business is hard enough as is. But the reality we live in is such that in addition to the challenges of finding customers, paying rent, controlling quality and delivery of goods or services, one has to deal with the fact that more or less 60% of invoices are paid late. The idea […]
Optimizing Loan and Lending Performance in 2021
There’s a widespread perception in the marketplace that end-to-end lending automation comes at a high cost — both in terms of its literal price tag and the operational compromises needed to make such automation a reality. This is untrue when it comes to one leading lending-technology provider. “TurnKey Lender solves every problem there is through the […]