The National Bank of Coxsackie in New York and Opportunity Bank of Montana have set up online lending platforms as more banks enter the digital arena.
National Bank of Coxsackie — a $463 million community bank based in New York’s Greene County — has launched a new digital small business lending platform, NBC Express.
Small businesses can apply for installment loans through the bank’s platform and the whole process is done digitally.
The initiative is part of the bank’s work to increase its service delivery while seeking to improve the customer experience in the process.
Banks Chief Credit Officer Charlene Slemp said: “We understand that time is an invaluable resource for small business owners, and we want to make the process of getting a term loan or line of credit easy, quick and hassle-free.”
Meanwhile, Opportunity Bank of Montana has partnered with Teslar Software to streamline the bank’s lending process for employees and customers.
Opportunity Bank is a Farm Services Agency secured lender and is active in residential mortgage lending. In a statement announcing the partnership, it said it expects loan growth of up to 10% this year, adding that Teslar’s contribution would allow the bank to scale more efficiently.
“We want to be known not as a bank with technology offerings, but rather as a technology leader that provides banking services,” said Pete Johnson, CEO of Opportunity Bank of Montana.
“Teslar allows us to track loans with complete accuracy and precision, ultimately saving borrowers and lenders time. We believe Teslar’s platform will be instrumental in the strategic growth of our portfolio. . »