Acuity Knowledge Partners Introduces Retail Lending Services to Support Commercial, Retail Banks

Acuity Knowledge Partners, an established provider of research, analytics and technology solutions to the financial services industry, has introduced its retail lending services in order to support commercial and retail banking institutions in the loan origination, processing, underwriting, closing and post-closing processes.

Acuity has expanded its business operations, covering all lending divisions, so that it can enable  banks with leveraging its domain expertise for all their lending services requirements.

Robert King, CEO at Acuity Knowledge Partners, stated:

“Strong economic recovery, along with an uptick in housing demand in the U.S., indicates that homebuyers and small business owners need quick responses on their loan applications. Banks are partnering with Acuity to help them streamline lending processes. With Acuity’s deep domain understanding and flexible staffing model, banks can achieve faster response time, improved risk decisions and 35-40% cost savings on loan origination, underwriting and servicing activities.”

Acuity has almost 2 decades of experience supporting global banking institutions across the complete loan life cycle. Its retail lending services provide origination, processing, underwriting, closing and post-closing support for consumer mortgage and other retail products.

Leveraging a mix of professionals, process and technology, the company offers customized solutions to its 90+ banking customers in retail, business, middle-market, real estate and leveraged finance loans.

Damian Burleigh, Chief Revenue and Marketing Officer, Acuity Knowledge Partners, added:

“We are now officially supporting banks on both institutional and retail lending operations. The tangible and measurable results that our partnership drove on the institutional side of business led to many of our customers involving us on their retail and mortgage lending side of business. This natural extension is sure to create economies of scale for our existing customer base and open new avenues for our services with regional banks and other strong retail players.”

Rajul Sood, Global Head of Commercial and Retail Lending Solutions, Acuity Knowledge Partners, noted:

“We anticipate that loan volumes will increase over a period as the economy gradually recovers from the impact of the pandemic and with the ease in supply within the housing market. Our mortgage underwriting, due diligence and loan servicing capabilities will give our clients a competitive edge at this critical juncture to help them improve speed to market and optimize their lending processes.”

Acuity’s loan support officers aim to standardize and improve the complete loan approval, underwriting and servicing processes, supported by technology-enabled platforms, while pinpointing red flags in loan applications, like high credit card utilization, late payments or not having an established credit history.

As mentioned in the announcement, Acuity helps banking platforms with expanding their loan portfolios, enhancing the client experience and addressing the potential risk of defaults and delinquencies on their outstanding loans.

The ongoing economic recovery from the COVID-19 crisis, as well as the fairly strong savings and low mortgage rates, means that new homebuyers’ homeownership goal may be attainable. While data indicates that the housing market might be cooling off, competition will mostly likely remain steady in the market in the near to medium term, the announcement noted.



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