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Monday, May 20, 2019

OD Results Differ Greatly by Compliant Bank Strategy


Regulation changes have occurred and some FIs have responded with compliant, customer-driven overdraft services, while other FI have avoided re-thinking their overdraft services after Reg E.  The result, according to banks reporting overdraft revenues to the FDIC, is that the median OD revenue growth for the top half of banks was +16% from 2016 to 2018, while the lower half saw revenues fall -10% during the same time period.

Source: FDIC - Banks Over $1B

Why?  Compliant, customer-driven services with new efficiencies are available today for implementation to meet customer needs. New digital technology enhances services and efficiencies and enables profitable overdraft alternatives. 

But FIs must understand their customer needs and use sound methods and compliance to meet them.  As the chart above shows, those that do focus on customer needs can see significant annual revenue improvement, while those that do not re-assess their overdraft services lag in both revenue and customer service.

To get our Whitepaper, "2019 Overdraft Best Practices," or start a free assessment of your compliant, customer-driven overdraft services, contact us or visit www.rcgiltner.com

Saturday, April 27, 2019

Forbes: Banks “Missing the Boat” in Digital Small Business Lending


Very few small or large banks accept small business loan applications online” or have automated small business lending processes, Forbes magazine reports after review of the FDIC’s Small Business Survey.  Yet small business heavily use online lending channels.




It is time your bank steps up its game to compete.  FIs don’t make money on small business loans under $100k, over half of all small business loans, with today’s processes, but they can with digital technology and delivery.  We provide off-the-shelf technology to fully make small business in minutes all under your underwriting, your brand, your compliance and your control for loans and relationships on your balance sheet.

See why others from $13B United Community Bank to $300 million HomeBank are using our MinuteLender® technology at www.rcgiltner.com
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Thursday, April 25, 2019

MinuteLender® Provides Spending Analysis Instantly For New Customer Loan Application


How is your new loan applicant spending their money?  Do they have deductions for risky loans, payday loans, or garnishments.  Is that small business applicant stacking up loans?  MinuteLender® for consumers and small business loans provides analysis by spending and payment category automatically in seconds through account aggregation from a new applicant’s current bank.



It is all part of automated loan application and decisioning in a minute.  All documents can be executed in the same process and funds in the account as fast as the customer wants.  Adverse actions are also handled digitally and compliantly.  Detailed transaction data like above is provided for your files electronically just as you have credit reports.  For more information, visit www.rcgiltner.com.





Wednesday, April 17, 2019

FIs Need to Respond as One-Third of Small Businesses Apply to Online Lenders


One third of small businesses now apply to online lenders like Kabbage or OnDeck according to the FED Survey reported in the American Banker today. 


It is time your bank steps up its game to compete.  FIs don’t make money on small business loans under $50k, nearly half of all small business loans, with today’s processes, but they can with digital technology and delivery.  We provide off-the-shelf technology to fully make small business in minutes all under your underwriting, your brand, your compliance and your control for loans and relationships on your balance sheet.

See why others from $300 million HomeBank to $13B United Community Bank are using our MinuteLender® technology at www.rcgiltner.com.





Monday, March 25, 2019

BankDirector FinXtech Connect Selects RCGILTNER MinuteLender® To Be Featured In Their Technology Directory for Banks

FinXTech Connect is a subscription resource by BankDirector, an organization that provides educational and informational material for a bank's board of directors and C-suite of executives. FinXTech Connect specializes in connecting a hugely influential audience of U.S. bank leaders with technology partners at the forefront of innovation.

Companies must demonstrate their service to and support for the banking industry to be featured in FinxTech Connect’s directory. RCGILNTER MinuteLender® was hand-picked by FinXTech Connect for serving banks with its innovative automated digital loan and liquidity technology provided all under the bank’s brand, underwriting and control for loans on their books in minutes.



Wednesday, March 13, 2019

RCGILTNER Digital Lending Provides Automated CRA Application and Loan Geo-coding


Banks meeting the size requirements defined by regulatory agencies are required by CRA to report census tract, county, SMSA and state geographic information of loan and application data for consumers and small businesses.  Many banks over $200 million report this information as well.  To automate this process for our digital lending technology, RCGILTNER now provides this information electronically on every application and completed loan.
For more information, visit www.rcgiltner.com.




Sunday, March 10, 2019

Digital Personal Loans Are Outpacing Credit Cards, Auto Loans!


Digital lending for personal loans is replacing credit cards and other borrowing means because of speed and simplicity, according to analysis by Experien.  As show below, digital is driving personal loan growth at twice the rate of credit card loans, and three times the rate of auto loans.


Credit cards are now a more cumbersome offering that a digitally-provided line of credit or installment loan attached to a checking account, where a debit card can access line of credit funds.  This is great news for community and regional financial institutions that have little profit from agency credit card programs and can be highly profitable with efficient digital lending leveraging credit on bank books.

The personal loan market is now $300 billion, nearly as large as the HELOC loan market, and used by more households (11%), with an average balance of $16k and a profitable average rate of over 9%

MinuteLender® provides digital lending for community and regional banks in minutes with a superior customer experience, competitive advantage and great efficiency, in branch or out.  All is done with technology you own under your brand, underwriting, control and compliance for loans on your books.  For more information, visit www.rcgiltner.com.