LendKey Technologies, Inc.’s Post

Caught a great article today that's recent from McKinsey & Company. This quote caught my attention: "One of the key takeaways was that banks should consider becoming a one-stop shop for all kinds of products and services valued by small and medium-size enterprises (SMEs). These clients say they would welcome such convenience but generally aren’t getting it from their primary financial institutions." Every week, I talk to #banks and #creditunions that are realizing that #smallbusiness lending is an area they MUST get better at to remain relevant and support their customers. The profits of these loans is fantastic. Establishing value for the long-term is better (like gathering deposits). https://lnkd.in/gxGj9c6y

Insights are in the driver’s seat. The future of commercial lending must not only be fast but also better informed – powered by intelligent predictive insights. Read the blog today: http://spr.ly/6044RVaQo

Really good read on pricing. If you are a CU that hasn't made changes in your loan pricing recently, we need to talk! We have analytics that can help you identify holes in your pricing, we can also make recommendations based on your reported data. Regular review of your pricing is a must to stay competitive, adjust for changes in risk and to stay on top of interest income. #experian #riskbasedpricing #creditunion

Really good read on pricing. If you are a CU that hasn't made changes in your loan pricing recently, we need to talk! We have analytics that can help you identify holes in your pricing, we can also make recommendations based on your reported data. Regular review of your pricing is a must to stay competitive, adjust for changes in risk and to stay on top of interest income. #experian #riskbasedpricing #creditunion

Last year, we got together with Ron Shevlin and Cornerstone Advisors to conduct a survey on what #SMBs want out of a modern banking relationship. The results were quite often surprising. It revealed that #communitybanks and #creditunions have some unique competitive advantages. And, if they're receptive to strengthening their core value props, they can beat the megabanks and big regionals (and local competition)! #banks #banking #noninterestincome #primacy #checkingaccounts https://lnkd.in/eP8tHmpd

Great article by Prateek Khandelwal on how innovation in technology and a focus on personalized services are empowering customers. #Finance #Innovation #customer centricity

Many people take time out over the new year period to review their banking and lending choices. Here's 6 Factors to use to drive your decision making. https://lnkd.in/ghS6Yqbp #businessplanning #bankingreview #lendingsolutions #businessdevelopment #newyear2024

The first half of 2023 brought a challenging financial environment. UMB continues to have strong financials despite this, but the media coverage and perception of the industry might cause some to wonder, “Is my money safe?” and, maybe more importantly, “How do I know if my bank is doing well?” Similar to how you manage your own finances, a bank keeps track of all its assets, as well as the money it is owed. But do you know how to access and analyze this information? As a customer, it is important to understand a bank’s balance sheet and how it might affect you – or provide you peace of mind about your banking partner. Learn more on the blog.

Insightful read on the evolving finance industry! The convergence of innovation and customer-centricity is truly transforming financial services. It’s fascinating to see how data-driven insights and technological advancements are empowering consumers with personalized solutions. The focus on financial inclusion and alternative credit assessments is a commendable step towards a more equitable financial ecosystem. Kudos to Prateek Khandelwal for highlighting these pivotal trends!

💹 Understanding the Profit Puzzle in Banking: Inside the Value Chain 🏦🔄 #bankinginsights #financialservices #profitstrategy Delving into the intricacies of the banking industry, this article sheds light on the complex value chain and how banks generate profits. From accepting deposits to innovative income sources, it's a fascinating look at the business model that keeps our financial systems running. 💰🔍 #bankingbusinessmodel #financialinnovation 📖 Full read here: https://lnkd.in/dXqjq_pX