Part III: B2B credit automation that cuts operational costs and minimises credit risk 

Digital Lending

Demand for digital b2b credit is growing and each day more small, midsize and large lenders will enter the market with specialized credit products tailored to the needs of specific borrowers.  

Better quality of decisions is no longer ensured by more underwriters doing paperwork. All due diligence and analysis are done on autopilot. With modern automation, B2B credit marketplace becomes truly competitive where before it was controlled by large players now slowed down by legacy solutions. 

Success predictors of a commercial lending business  

We frequently help commercial lenders extend accessible, affordable, and personalized finance options to their customers. And in our experience, these factors are the biggest B2B lending project success predictors.  

  • Better rates through credit scoring accuracy and lower operational costs 
  • Fully digital and simple loan application process 
  • Quick decision-making based on real business data 
  • Holistic end-to-end automation of the lending process 
  • Payment/schedule flexibility that account for business specifics 
  • Industry-specific credit products tailored for specific business sizes and types  
  • Borrower portal to manage payments, communication, and loan applications 
  • Sensitive info protection with robust data security measures 
  • Optimized (largely automated) communications 

We’ve made sure TurnKey Commercial excels in every one of these areas. 

Top 5 commercial lending automation challenges (and how we solve them) 

Over the year, TurnKey Lender has solved lending process automation challenges for hundreds of businesses worldwide. And during each of the discovery calls, the potential customers, are voicing specific challenges.  

1. Lead the charge in efficiency and intelligence 

Commercial lenders need to be able to innovate on par with traditional and startup competitors. This means a fully digital lending infrastructure that supports the flexibility required for big-ticket deals and quick time-to-market for new offerings.  

B2B lenders and SME borrowers need a platform that ensures a modern level of user experience and intelligence. 

How TurnKey Commercial does it  

TurnKey Lender offers a comprehensive platform that enables commercial lenders to automate their lending process out of the box. With 98.5% satisfaction rate and praise from leading market researchers, TurnKey Commercial is based on digital lending best practices from over 50 countries.  

The platform provides a configurable experience for lenders and a smooth, intuitive flow for borrowers. It is created with the needs of commercial lenders in mind so the credit products, borrower evaluation and scroring, origination process, and other B2B spefic areas are flexible enough to meet your specific demands and grant you complete autonomy 

White paper: How to automate ever part of the commercial lending process

 2. Underwriting and business credit scoring in b2b lending 

To lower credit risk and attract high-quality borrowers, commercial lenders need to gather more relevant data about each business applying for finance. They need to be able to parse and understand this data consistently to use it in automated processing, credit scoring, and decision-making. Credit decisions for business loans are a lot harder because business data is a lot harder to interpret and analyze based on unified procedures, so automation is much more complex.  

How TurnKey Commercial does it  

At TurnKey Lender we have solved this challenge and offer preconfigured and custom scoring models and personalized decisioning flows which allow to keep your staff informed and assist automated credit decisions no matter the complexity of the industry and data.  

But for 90% of the cases, the Decision Engine scoring is ready to tackle your underwriting and decisioning out of the box. 

Decisions made by TurnKey Commercial are based on the specific data you’ve chosen to collect. Thanks to configurability of the scoring factors and decision rules the automated processing is razor-focused on your business case and borrower specifics. TurnKey Lender’s self-learning Decision engine uses proprietary AI in underwriting and scoring. It analyzes data from bank statements, credit bureau, loan application, and other sources to help you make better loan decisions faster. 

All of that is already realized in pre-configured platform and takes from days to a few weeks to calibrate credit scoring and configure the solution to your exact business scenario.  

It all comes down to who can use available tools and data to come to better credit decisions and reach better clients with better offers. 

You can see a demo of how TurnKey Commercial handles loan origination and decisioning in this step-by-step business loan application process demo. 

3. Minimizing credit risk and operational costs in commercial credit 

Running a lean and efficient commercial lending operation requires minimizing overhead, paperwork, and operational expenses while providing a modern digital lending experience on par with market leaders. 

How TurnKey Commercial does it  

TurnKey Lender streamlines commercial lending operations with its unified, AI-driven platform. By automating crucial processes such as loan origination, underwriting, servicing, and collection, it significantly reduces overheads and paperwork, making operations lean and efficient. 

Simultaneously, TurnKey Lender delivers a superior digital lending experience. It aligns with the standards set by industry leaders, ensuring your business stays competitive in the fast-paced, technology-driven lending market. 

4. Tech partner for the long run 

The commercial lending space is constantly changing, and commercial lenders need a tech partner that maintains the platform, regularly upgrades it with industry’s newest trends, and supports new integrations, origination, scoring, servicing, and collection methods. 

How TurnKey Commercial does it  

TurnKey Lender is the only true end-to-end lending automation platform that meets modern market requirements. Our platform is iteratively developed based on our research, direct feedback, and successful practices of lending businesses globally. It automates all elements of the borrower’s lifecycle, including loan application, processing, origination, underwriting, scoring, servicing, collection, reporting, audits, KYC&AML, and more. Our solution is the most unified, streamlined, holistic, and intelligent platform to automate any kind of credit, B2B or B2C, compared to all serious competition. 

5. Creating processes that scale 

Managing commercial lending finances is complicated. It’s impossible to scale an operation that does this manually. Any data or payment falling through the cracks can cause an avalanche of issues. 

How TurnKey Commercial does it 

TurnKey Lender is a digital lending technology powerhouse that eliminates paperwork, automates repetitive tasks, saves operational costs, and reduces credit risk and approval time. Our constantly improving platform allows commercial lenders to compete on a level playing field with the most resourceful lenders. 

What TurnKey Commercial brings to the table 

  • Maximize the ROI on your B2B lending operation  

TurnKey Commercial is a cloud-based infrastructure that has all the tools necessary to operate and scale a B2B lending business. Issues and analysis that used to take staff hours or days – now handled on autopilot. Instead of 3-5 conflicting solutions, you rely on an end-to-end platform optimized to cut credit risk and boost efficiency. TurnKey Commercial is the ultimate solution that answers the real-life challenges of a B2B lender in a sophisticated manner. 

  • Turn-key automation for every element of the commercial lending process  

Commercial lenders worldwide use this platform to extend B2B credit to SMEs. It is built to house your entire commercial loan’s lifecycle, from tailor-fit application process and credit scoring to loan management, debt collections, and reporting. Whether you use the end-to-end platform or stand-alone modules, TurnKey Commercial offers the fastest time to market and the most agility in managing lending operations.  

  • Make commercial loan decisions in minutes (if not automatically) 

Precision and speed during origination and underwriting define your future with every business borrower. TurnKey Commercial gives you a game-changing boost during business onboarding. The platform easily conforms to any loan application logic and uses data from sources indicated by you to automate credit scoring and decisioning. It is flexible, scalable, and configurable enough to support organizations that want to scale and quickly adapt to the market.   

Final thoughts 

To this day, the commercial lending space is largely dominated by giant financial institutions who are unable to service specific industries and business types with credit product they require on the terms that are fair.  

At the same time, commercial lending technology has caught up with consumer finance and with automation challenges out of the way, it is now easier than ever to become a commercial lender. 

TurnKey Lender has been automating commercial lending processes since 2014 and has now released a dedicated solution for B2B lenders, TurnKey Commercial. Book an intro call with our team to talk about your business lending project today.

Read this next

This is a part of a 3-chapter series with all you need to know to automate any kind of commercial lending process. You can continue with this course here:

Automate every step of your consumer or commercial lending process.
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