How can lenders improve the speed and accuracy of loan approvals for SMBs? AI predictive analytics, machine learning and the use of alternative data are key to making improvements in many areas of SMB lending but there are many considerations SMB lenders need to ponder to ensure they are truly positioning themselves on the path to progress.
In this BAI article, John Pesavento, Vice President of Technology for Reliant Funding, shares his observations on approaches and questions lenders should really explore to determine how AI, machine learning and the right data can help them improve predictability at each inflection point across the entire funnel—from an early sales lead to application approval based on submission characteristics.