Alchemy Technologies has launched a new “hybrid” branch and mobile lending platform, according to a company release.
Said to combine brick and mortar operations and an online lending experience under one solution, Alchemy reports that it worked with major financial services firms on the product.
Recently, there has been a shift away from brick and mortar bank locations – a transition that has been accelerated by the COVID-19 health crisis.
Alchemy CEO Timothy Li said they are bringing financial services operations into the 21st century as customers can transact at home and complete a financial transaction from end to end or they can visit a branch and complete the transactions there as well.
Li, a Crowdfund Insider Contributor, told CI that COVID19 is wreaking havoc amongst storefront lenders.
“These lenders are struggling to service their clients during the shutdown period. Both in terms of State or County “stay-at-home” orders and their stores deemed to be non-essential in some cases. Alchemy is helping storefront lenders to stay connected with their customers by offering a brand new branch and online hybrid software designed to have lenders and their customers stay connected in person or virtually,” said Li. “We’ve been working with some of the biggest brick and mortar financial services companies for the past few months and finally unveiled our “Click-to-Brick” software with great anticipation. We often forget how important a physical location means to a community and most of the FinTech investments assume that everyone is able to get online, at Alchemy, we are bridging that divide and keep communities connected both physically and virtual to help our clients to provides these essential services.”
Features of the new service include the ability to handle complete applications either digitally or in house at a branch.
Alchemy’s service is said to be mobile friendly that allows customers to apply, upload a document, and sign their application seemlessly.
Alchemy Technologies is a Fintech infrastructure company offering out-of-the-box technology, algorithms, and services to launch financial products for Banks, Specialty Financing Companies, Point of Sale Financing, and Fintech startups alike.