Data intelligence firm Curinos rolled out a brand new small business lending platform Wednesday (June 22), allowing immediate access for various originations metrics.
The platform, called LendersBenchmark, will offer you weekly up-to-date originations data and metrics, delivering banking institutions the performance data and market insights to deal with small company lending portfolios.
This will let banks identify competitive positions and look into opportunities inside their markets for things like bookings, pricings, cycle times and more, per the press release. Additionally, the answer is applying a \”give-to-get\” model, letting participating lenders access origination and portfolio transaction data from Curinos.
From there, the data is going to be be anonymous and become available through pre-formatted reports and knowledge visualization tools, letting lenders take a look at their competitive position and look into marker opportunities.
\”LendersBenchmark(R) for Small Business Lending presents unlimited potential applications to banking institutions as they address their small business lending offerings, a critical business growth position for banks,\” said Lindsay Burkhalter, director of consumer and small company lending at Curinos.
\”Post-pandemic, small company lending opportunities have risen, with double-digit demand increases both in loan and credit line products in 2022. As a result, we developed this consortium to deal with how banks can identify possibilities to take their share from the demand.\”
Earlier this season, Curinos' research learned that banks and FinTechs that had redone their overdraft policies have been adding more new clients, PYMNTS wrote.
This came weight loss banks were eliminating overdraft fees, that have been criticized as discriminatory to lower-budget, underserved users.
That's happening in turn since there has been a increase in FinTechs offering zero-fee services, so that as politicians like Customer advocates have called out banks for continuing to use the practice.
According to Brendan Coughlin, head of banking with Citizens Financial, there's been a good economic trade-off by having a more \”forgiving\” fee structure.