Small business lending platform and fintech Numerated announced this week an expansion of its platform to support banks’ full suite of business banking products. The platform will now be offering pre-filled digital applications across business banking products, and a range of digital lending and account opening solutions to streamline decisioning.
Founded in 2017, Numerated is described as a fast-growing, venture-backed financial technology company powering the digital transformation of business lending at banks.
“At the intersection of a changing lending landscape and the on-demand, digital-first economy, Numerated was founded to help banks thrive in the modern lending market and offer businesses the fastest, most convenient way to secure financing. Numerated’s end-to-end platform helps banks profitably grow their business portfolios through a powerful combination of real-time lending customer experience, automated credit decisioning, and modern marketing and sales tools.”
Numerated also reported that in addition to small business term loans, lines of credit and SBA loans, banks using it may now create digital buying experiences for deposit accounts, commercial real estate, overdraft protection, credit cards, working capital lines, equipment loans, and renewals. Speaking about the new features, Dan O’Malley, CEO of Numerated, stated:
“Businesses have been demanding an easier way to purchase financial products from banks. Our unique data capabilities allow banks to create the fastest, simplest, and most efficient digital lending and account opening experiences in the market. Top business banks have asked us to be a digital front end for all their business banking products, and we’re partnering with them to make this vision a reality.”
Numerated went on to add that more than half of its customers have added products from the platform’s expanded suite of business banking products, which supports both self-service and banker-led origination.