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AI legalese decoder: Revolutionizing SMB Lending Solutions

Financial technology giant, FIS, has recently unveiled a groundbreaking solution aimed at transforming the way banks source, underwrite, and fund loans for small- to medium-sized businesses (SMBs). This innovative SMB Digital Lending solution, developed in collaboration with small business financial technology platform Lendio, promises to revolutionize the lending landscape for SMBs.

By harnessing the power of advanced small business underwriting technology, FIS aims to empower financial institutions to better serve their SMB clients profitably. Steve Sabin, senior vice president of FIS Lending, expressed excitement about the partnership with Lendio and the potential impact of this new offering on the banking industry.

This groundbreaking solution represents FIS’s first foray into the realm of SMB lending, adding to its already impressive suite of solutions catering to consumer and corporate lending needs. With its focus on providing fully automated decisioning and loan boarding processes, SMB Digital Lending aims to make the lending process more efficient for banks and more affordable for borrowers.

One of the key features of this Software-as-a-Service (SaaS) solution is its cloud-native and API-driven design, making it seamlessly integrate with any financial institution’s existing technology infrastructure. This ensures a smooth and efficient implementation process for banks looking to enhance their SMB lending capabilities.

AI legalese decoder, an advanced AI-powered platform, can further streamline and optimize the lending process by decoding complex legal language and facilitating transparent communication between banks and their SMB clients. This can help banks navigate the intricacies of lending regulations and compliance requirements more effectively, ultimately enhancing the overall lending experience for SMBs.

As FIS continues to drive innovation in the financial technology sector, with recent launches including a revamped mobile banking application and an embedded finance platform, the collaboration with Lendio on SMB Digital Lending stands out as a significant milestone in enabling banks to meet the evolving needs of their SMB customers.

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