Austin, Texas, November 21, 2019 – Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, announced today it launched a survey to assess how financial institutions expect to manage their commercial lending process in 2020.
A decade of economic expansion, low interest rates, a competitive lending environment, and new technology have significantly changed the business lending environment. Today’s community financial institutions are looking for ways to make commercial lending more time- and cost-efficient to stay competitive, while also making safe and sound loans.
Abrigo will poll hundreds of community financial institutions throughout the country to assess industry obstacles and evaluate strategies and best practices regarding various areas of the commercial lending process, including risk rating, pricing, underwriting, tracking ticklers, and more. The survey will help community financial institutions benchmark their strategies against peers and highlight industry goals for the upcoming year.
Key questions that the 2020 survey covers includes:
- Length of time it takes to close a new commercial deal
- How institutions manage the borrower pipeline
- How institutions set prices on loans
- How many labor hours it takes to underwrite a loan
- How many categories institutions have in their risk rating scale
Following the survey, Abrigo consultants will review the survey findings and provide commentary on the results. A whitepaper will be provided with a summary of the findings and address best practices for commercial lending in 2020. Bankers who complete the survey will be among the first to receive the results once published in early 2020.
To learn more about Abrigo’s 2020 Business Lending Readiness Survey and to take the survey, click here.
Abrigo is a leading technology provider of compliance, credit risk, lending, and asset/liability management solutions that community financial institutions use to manage risk and drive growth. Our software automates key processes – from anti-money laundering to asset/liability management to fraud detection to lending solutions – empowering our customers by addressing their Enterprise Risk Management needs. Visit abrigo.com to learn more. Follow Abrigo on social media using @WeAreAbrigo.