Biz2X
8 Case Studies
Case Study: Popular Bank accelerates lending decisions with Biz2X
A Biz2X Case Study
Popular Bank automates lending decisions with Biz2X, boosting loan closures 32%
Popular Bank, a financial institution operating in New York, New Jersey, and Florida, was seeking to expand its digital services and grow its small business lending. Their challenge was a reliance on a manual underwriting system for small and medium-sized business loans, which was inefficient and hindered their growth goals. To address this, they partnered with vendor Biz2X to implement its digital loan origination and underwriting platform.
The Biz2X Platform provided a digital solution for customer onboarding and automated underwriting, specifically for loans between $5,000 and $100,000. This implementation resulted in immediate and significant improvements for Popular Bank, including a 170% increase in application volume, a 32% increase in loan closures, and a 28% increase in lending upsell. The Biz2X solution dramatically accelerated the bank's application-to-funded time and improved overall efficiency.
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