digital banking and lending solutions for communities
TRANSCRIPT
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Digital Solutions for Communities
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Key Challenges Facing Community Banks
Laying the Foundation for Digital Lending
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Customer engagement models mean “life or
death” for banks.
Non-banks offering “banking” products
Share of wallet & new customer acquisition
are more costly.
We see 3 trends that are creating an imperative for banks to move to digital lending in 2017.
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New channels to acquire and engage customers, result in more opportunity and competitive threats.
Losses greater than 50% of all New Potential Members
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Non-banks offer a range of “bank products”, including deposit, borrow and commercial financing options.
Experts suggest non-bank lending will become a Trillion-Dollar industry by 2025.
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Meanwhile, branch banking is the LEAST profitable method of customer engagement.
Migrating Branch Activities to Self-Serve Channels is KEY to Long Term Profitability.
As the Average Cost of a Branch Transaction Skyrockets
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Banks must migrate to self-serve channels and boost profitability, or face threats of closure, or amalgamation.
Total Banks & Credit Unions 1985-2015
Small banks are under constant threat
by their larger counterparts.
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Communities suffer as banks move away from unprofitable market segments.
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ChoiceBnq# makes community banking more profitable, customer-centric & secure.
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Banking without Walls is Here.Digital Lending by ChoiceBnq#
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Apply EVERYWHERE
Fulfill EVERY TIMEDecision EVERYONE
Secure EVERYTHING
Digital Lending Design for Community Banks
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Apply Everywhere 3-step application process for consumers and businesses Omni-channel out-of-the-box Borrower alone, or account manager assisted In-branch, at home, at the ATM or “on-the-go” “No-barriers” applications; new or existing customers get
the same “1-step” experience Multi-product application support
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Decision EVERYONE Lenders can use the broadest set of criteria to make sure
they support ALL desired customer types– 500+ underwriting variables from Tier 1 reporting agencies
Matching engine offers IMMEDIATE answer;– Approved; offer ready to accept– Pre-approved; with more information required– Declined; alternate offers if available
Insured products offer automated government paperwork creation (CSBFP and SBA)
Support for all major types of credit products; consumer, small business and commercial
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Fulfill EVERYTIME Direct account management through secure personal
communication dashboard and private chat Account management portfolios and dashboards White label customer service option Multiple product fulfillment methods and multi-tier approval
workflows Digital loan files
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Secure EVERYTHING SAAS application built on Microsoft Azure 128 bit encryption True white-label SAAS solution Token-based security Audit-ready, compliance prepared Digital underwriting management Data integration to core banking systems Centralized Reporting and Review Portal
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The Result? Digital lending done right.Engagement, profitability, success.
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Immediately increase acquisition of customers and opportunity.
Omni-channel
engagement =
100% Member
Opportunity
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Lower cost of acquisition up to 80%, + standardize cost of lending = more profit, better IRR.
Reduce Costs, Increase Net Income
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Technology is a strategic enabler.We get you into the market in weeks, not years.
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- Temenos
Technology investment (by banks) skyrocketed from fourth priority in
2014 to first priority in 2015.-Temenos
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Our exclusive service model was designed to work with your existing processes, and get you online in weeks.
Four Weeks to Launch