Curinos, a global data intelligence business serving financial institutions across lending, deposits and digital banking solutions, announced the launch of LendersBenchmark® for Small Business Lending. This first-to-market benchmarking tool provides banks direct access to critical originations metrics for a consortium of participants within the small business lending space.
LendersBenchmark® for Small Business Lending offers weekly up-to-date originations data and metrics, delivering financial institutions the performance data and market insights needed to manage their small business lending portfolios. The tool allows banks to identify competitive positioning and define optimization opportunities within the market to capture market demand/bookings, pricing, cycle times and more.
The solution is based on a “give-to-get” model, where participating lenders provide both origination and portfolio transaction-level data to Curinos on a pre-scheduled basis and format. This data is then anonymized and made available via pre-formatted reports and world class data visualization tools. Lenders can then assess their competitive position, identify market opportunities; and enhance share, margin, risk and operational execution.
“LendersBenchmark® for Small Business Lending presents unlimited potential applications to financial institutions as they address their small business lending offerings, a critical business growth area for banks,” said Lindsay Burkhalter, Director of Consumer & Small Business Lending at Curinos. “Post-pandemic, small business lending opportunities have risen, with double-digit demand increases in both loan and line of credit products in 2022. As such, we developed this consortium to address how banks can identify opportunities to take their share of the demand.”
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LendersBenchmark® for Small Business Lending is deployed via CurinosConnect™, an intuitive Microsoft Excel ‘add-in’ feature that utilizes a powerful user interface offering:
Direct data access linking to curated Curinos datasets with the most recent available benchmarks
Customizable integration offering tailored reports and an extension into existing workbooks
An evolving application that provides a user-influenced roadmap of updates to existing datasets, metrics and application user interface
“As a former business banking practitioner, I am thrilled to introduce an offering that is exactly what the industry needs to accurately assess competitive positions with timeliness, specificity and comprehension,” added Burkhalter.