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Lending-as-a-Service (LaaS) is fast evolving as a quicker, more cost-effective way for banks to go to market with new loan products and services without requiring additional staff or infrastructure.

Lynx is available alongside Rapid Enterprise’s true, end-to-end digital loan origination system (LOS), Decisioneer, as components of Rapid Enterprise’s proven LaaS solution set that supports lending operations across acquisition, origination and servicing.

Decisioneer’s borrower portal and portfolio management module for loan officers and underwriters complements Mambu’s loan management system (LMS) to support ongoing customer relationship initiatives.

In recorginition of May as Small Business Month, Finopotamus spoke with Will Tumulty, CEO of Rapid Finance, about the recent offering of the company’s in-house-developed systems and processes to community financial institutions under a model the company calls Lending as a Service (LaaS).

“We are seeing the influence of IoT across industries.” -Preethi Janardhanan

Through this integration, SMB lenders gain access to a much more intelligent view of borrowers’ true financial profile based on relevant ratios and patterns in cash flow and other parameters.

Decisioneer is a key component of Rapid Finance’s Lending as a Service (LaaS) capabilities, helping financial institutions better meet the financing needs of their business customers.

Rapid Enterprises’ Software as a Service (SaaS) Regtech module, SMB Disclosure Service, to support business lenders and financing companies in complying with Utah’s new commercial transaction disclosure requirements.

Banks will need to go beyond onboarding and origination to help nurture relationships with business banking customers to better predict if they may be encountering financial trouble as economic conditions change.

As more states enact their disclosure laws for commercial finance providers, the regulatory burden will only increase on those companies.

Bankers recognize the importance of providing their business banking customers with the same fast and frictionless digital experience that their consumer retail banking customers enjoy.