According to Cornerstone Advisors’ study “What’s Going on in Banking 2023” small business lending is becoming more important. With a recession looming in the US economy, banks must diversify their loan portfolios into small business C&I lending.
Banks must automate their lending processes to provide profitable loans to small businesses. Several challenges, however, act as roadblocks in their automation and digital transformation journey, including lack of standardization across data and documentation, difficulty in determining customer creditworthiness, data privacy and security concerns, compliance issues, and more.
Join experts from Cornerstone Advisors and Newgen to understand how banks can navigate these challenges of automating small business lending.
- Small Business Lending: The current scenario
- Key automation challenges
- Strategies implemented by successful small business lenders
- Perspectives from Cornerstone Advisors’ small business lending subject matter experts