Rapid Finance, a leader in small business financing and enterprise lending solutions, released the white paper, “The Missed Opportunity in Modern Commercial Lending: Unlocking the Untapped Power of Customer Data,” that explores how underutilized data leads to lending inefficiencies, lost revenue opportunities and increased risk for financial institutions. As detailed in the report, adopting a proactive data-driven strategy enables lenders to strengthen their portfolios and deliver tailored experiences that meet evolving customer expectations.

Data is a critical asset that lenders must fully leverage to maintain a competitive advantage in today’s lending landscape, yet many financial institutions only leverage it for immediate transactional purposes such as processing, approving loans and addressing service requests. This reactive approach results in institutions missing significant opportunities for strategic growth, deeper customer insights and enhanced operational efficiency. Additionally, the white paper provides real-world examples of data-driven lending success from reducing non-performing loans (NPLs) to improving customer retention and generating revenue through personalized offerings.

The white paper also outlines key steps lenders can take to improve data utilization including breaking down data silos, investing in AI and analytics infrastructure, embracing proactive data strategies, fostering data-driven culture and starting small but scaling strategically. Financial institutions that fully embrace and adopt data-driven strategies will excel in a hypercompetitive market. By transitioning to a proactive data strategy, institutions can unlock new revenue streams, enhance their operational efficiency and strengthen customer relationships.

“Lending strategies must be able to address customer expectations that are continuously evolving,” said Will Tumulty, CEO of Rapid Finance. “By leveraging customer data to its fullest potential, lenders can unlock significant opportunities for growth and efficiency. Our latest white paper provides a clear blueprint for institutions seeking to create a more personalized, value-driven lending experience for their small business customers.”

About Rapid Finance

Since 2005, Rapid Finance has been supporting the growth and success of small businesses across the U.S. Powered by a thoughtful combination of technology, speed and deep industry expertise, Rapid Finance provides modular, flexible and scalable financing solutions to small businesses, as well as Lending-as-a-Service solutions customized to meet enterprise clients’ needs. Learn more at www.rapidfinance.com.

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