Read news and insights from the Lendsmart team.
January 7, 2022Citizens State Bank, a Wisconsin-based community bank focused on commercial and personal banking products, has selected Lendsmart, an AI-driven digital lending platform, to improve its digital lending operations and offer a seamless customer experience. With Lendsmart’s AI technology, Citizens State Bank will be able to process more loans and help their customers acquire a loan…
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January 5, 2022Community bank partners with Lendsmart to expedite lending operations and enhance the customer experience. NEW YORK, Dec 22, 2021— Legence Bank, a progressive IL-based community bank, has chosen Lendsmart, an AI-driven digital lending platform to streamline its digital lending operations and better serve its customers. For personal loans, Legence Bank offers customized financing, secured and…
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December 21, 2021Banks, credit unions, and other financial institutions used to cringe when they heard the terms “freelancer” or “independent contractor.” After all, those people without steady paychecks could present a huge risk. But that perception is changing. The reality is that full-time freelancers now generate an average income of $68K annually, which is higher than the median U.S.…
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December 2, 2021Fintech lender partners with Lendsmart to streamline small business lending and enhance the customer experience. NEW YORK, Nov 16, 2021— Lendsmart, an AI-driven digital lending platform, today announced its partnership with Breakout Capital, a leading small business lender that provides simple, straightforward working capital solutions to small businesses. Breakout Capital has integrated with Lendsmart’s Loan…
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November 30, 2021Every lender has been there. You either approved a “bad” loan or failed to give a loan to a customer who turned out to be a great prospect for future business. Although the number of nonperforming loans is relatively low these days at 1.6%, lending pitfalls are not just related to non-payment or late payments.…
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October 28, 20212021 has been a year like no other in terms of the housing market and consumer behavior. Fueled by low mortgage interest rates, PPP loans, the rise of tech-powered real estate buying/lending, and the work-from-anywhere trend, consumers are making significant decisions about where to move, who to borrow from, and what to do with new…
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October 5, 2021NEW YORK, Oct 5, 2021— Sutton Bank, a progressive Ohio based independent, community bank, has chosen Lendsmart, an AI-driven digital lending platform to streamline its digital lending operations and better serve its customers. Working with Lendsmart will enable Sutton Bank to offer a significantly better experience to its customers and homebuyers by bringing all parties…
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September 21, 2021Smaller lenders have a huge advantage over larger financial institutions. Although they may not have as much to spend on marketing, they benefit from a level of personalization and client intimacy and care that a larger financial services company may not be able to deliver. A recent article in FICO by Matt Stanley asserted that:…
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August 19, 2021As we know, the housing market has been booming this year, due to lower mortgage rates and the “live and work from anywhere” trend, created by the pandemic. Millennials are making up a significant percentage of new homebuyers — 38 percent, up from 32 percent in 2015. But younger people are not the only consumers…
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July 12, 2021New Integration Significantly Reduces Loan Origination Processing Time for Lenders and Borrowers NEW YORK, July 13, 2021— Lendsmart, an AI-driven digital lending platform, today announced they have integrated with Freddie Mac Loan Product Advisor® (LPA℠), the company’s automated underwriting system (AUS). Freddie Mac and Lendsmart are working together to better serve and exceed customer expectations…
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