INDUSTRY INNOVATION SESSION
Same Day Loan Approval and Funding
Why It’s Essential and How to Get There
October 19, 2009
12:00 pm - 1:15 pm
Room: Michigan B
Sponsored by:
Presented by: Charlie Stuard, Managing Director, Third Pillar Systems
Given today’s economic realities, most small businesses are approaching expansion efforts with caution. Banks across the country are witnessing decreased demand for loans and are working harder to attract new customers and retain their existing customer base.
In April of 2009, Third Pillar sponsored a market research study of Small Business Banking customers to uncover motivating factors for loan adoption and bank switching. The study uncovered a large opportunity for banks to gain market share by offering rapid loan decisioning and funding. Nearly 50% of those surveyed stated that they would immediately accept a loan from a new bank that could be approved and funded on the same day.
While most banking institutions do not have the state of the art processes and technology in place to enable same day approval and funding for small ticket loans, a handful of industry leaders are poised to offer the service later this year. The implications for market share in Small Business Banking are very significant and major shifts are expected.
Third Pillar Systems will present market research on the preferences of Small Business Banking customers and explore why rapid loan approval and funding trumps banking relationships about half of the time. The session will review the current state of small ticket loan origination and credit underwriting in the U.S banking industry and identify some of the major obstacles that banks face in offering rapid loan approval. The session will explore the state of the art processes and technologies that a few leading banks have put into place to enable rapid loan approval and funding.
In today’s highly competitive world of Small Business Banking decisioning speed, operational efficiency and strong credit policy enforcement will be the keys to success. Don’t miss the opportunity to get a close look at how some of the nation’s leading banks are positioning themselves for the future.
Seating is limited so we encourage you to preregister for the session at www.thirdpillar.com/sbbc. All preregistered attendees will enter a drawing to win a bottle of Opus One.
Note: Lunch will be served during the sessions and attendance will be guaranteed to the first 50 registrants. You may register at the conference registration counters.
INDUSTRY INNOVATION SESSION
Small Business Innovation in the New Normal
October 19, 2009
12:00 pm - 1:15 pm
Room: Michigan A
Sponsored by:
Presenter:
Matt Pretzer, Digital Insight, Senior Product Manager
Small Business FinanceWorks
Highlighting topics from Intuit’s Future of Small Business Report, Digital Insight will discuss how today’s turbulent and rapidly changing world magnifies the increasing importance of small business innovation. According to Intuit’s Small Business United survey, nearly 9 out of 10 small business owners see opportunities for their business despite the stagnant economy. This session will highlight how financial institutions can help small businesses grow and will include a demonstration of Digital Insight’s award-winning Small Business FinanceWorks.
Matt Pretzer has been with Intuit since 2000. As a senior product manager for Small Business Finance Works, Pretzer is responsible for setting the long- and short-term product strategy for small business online services and working with product development to deliver solutions. Prior to Digital Insight, Pretzer worked in corporate strategy leading projects in payments, tax and small business and for Innovative Merchant Solutions, Intuit’s payments division, developing programs to sell credit card processing via accountants, resellers and franchises and managing the Billing Solutions business.
Before joining Intuit, Pretzer led business development at a small business focused start up and worked in consulting at Mitchell Madison Group. He received his MD degree from University of California, San Francisco and his BA in Biology from Stanford University.
Note: Lunch will be served during the sessions and attendance will be guaranteed to the first 50 registrants. You may register at the conference registration counters.