In today's competitive financial landscape, increasing loan application volume is essential for sustaining growth and profitability. Originally published by BAI - https://www.bai.org/banking-strategies/why-boosting-loan-application-volume-is-critical-in-a-tight-market

This article first appeared in the April BAI Executive Report. Gain more insights into the value of building banking relationships through lending and more in that issue, Executive Report: “Innovations in lending services”.

An article in the most recent edition of ALM's Credit Union Times highlights Epic River growing presence in credit unions and the impact these credit unions can provide a "surprisingly simple solution to disrupt the cycle of inescapable debt."

Epic River, a lending-as-a-service platform, and Zero Circle, a green finance marketplace, have partnered to integrate their digital platforms, simplifying access to green financing for businesses.

In a recent article for The Credit Union Connection, Jeff Grobaski, CEO of Epic River, addresses the strategic priorities that credit union leaders should focus on in 2024. Key Takeaways: Navigating Economic Challenges: Grobaski acknowledges the ongoing economic challenges faced by credit unions, such as rising borrowing costs, maintaining competitive deposit rates, and supply chain disruptions. Prioritizing Digital Transformation: He emphasizes the importance of investing in digital transformation to improve member experience, streamline operations, and remain competitive in the evolving financial landscape. Building Agile Infrastructure: Credit unions need to develop agile infrastructure that allows them to adapt quickly to changing market conditions and member needs. Focusing on Community-Centric Approach: Grobaski highlights the importance of maintaining a strong focus on serving the community and providing personalized financial solutions to members. Grobaski suggests that by prioritizing these strategic initiatives, credit unions can successfully navigate the challenges of 2024 and continue to thrive in the years to come. He emphasizes the resilience and adaptability of credit union leadership, which will be essential in overcoming the uncertainties of the future.

In a recent article for Finopotamus, Jeff Grobaski, CEO of Epic River, explores how digital lending can be a powerful tool to promote financial inclusivity. Key Takeaways: Overcoming Unconscious Bias: Grobaski emphasizes that digital lending platforms can help mitigate the impact of unconscious bias in traditional lending practices by relying on objective data for loan decisions. This promotes fairer and more equitable access to credit for all borrowers. Expanding Access to Credit: Digital lending platforms can reach a wider range of borrowers, including those who may be underserved by traditional financial institutions. This increased access can empower individuals and communities, fostering economic growth. Promoting Fair Lending Practices: By standardizing evaluations and removing subjective judgments, digital lending promotes a more transparent and equitable lending process. This helps ensure that credit decisions are based solely on creditworthiness, not on factors like race, gender, or ethnicity. Grobaski highlights the transformative potential of digital lending to create a more inclusive financial system. He acknowledges the importance of addressing potential biases in algorithms and data, but ultimately believes that the benefits of digital lending far outweigh the risks. By leveraging technology and data-driven insights, credit unions and other financial institutions can play a crucial role in promoting financial inclusivity and empowering underserved communities.

In a recent article for Credit Union Business, Jeff Grobaski, CEO of Epic River, highlights the numerous benefits of adopting end-to-end digital lending platforms for credit unions. Key Takeaways: Enhanced Borrower Experience: Streamlined application processes, faster decisions, and real-time updates elevate borrower satisfaction. Improved Operational Efficiency: Digital tools automate manual tasks, freeing up resources for value-added activities and enhancing the bottom line. Increased Revenue Growth: Efficient processes and a seamless digital experience attract more borrowers, leading to increased loan volume and revenue. Stronger Competitive Advantage: Digital lending capabilities are essential for credit unions to remain competitive in today's market. Enhanced Risk Management: Digital platforms provide better data analysis and automated credit decisioning, reducing risk and improving loan portfolio quality. Grobaski emphasizes that as interest rates are predicted to drop in 2024, credit unions must proactively prepare for increased loan volume. Embracing digital lending is not just a trend; it's a strategic necessity for growth, efficiency, and member satisfaction.

In a recent article for Bank Director, Jeff Grobaski, CEO of Epic River, a lending-as-a-service platform, emphasizes the unique advantage community banks have in fostering local business relationships to drive growth. Key Takeaways: Community Focus: Unlike national banks, community banks have a deeper understanding of their local markets and can build stronger connections with businesses in their communities. Identifying High-Potential Businesses: Grobaski suggests focusing on businesses with top talent, strong community leadership, and those in growth industries, such as healthcare, green energy, and technology. Building Trust: Community banks can leverage personal relationships and referrals to build trust with potential business clients, offering a more personalized experience than larger institutions. Meeting Needs: By understanding the specific needs of local businesses, community banks can tailor financial solutions that cater to their growth and resilience. Grobaski highlights that the pandemic-induced economic stimulus presents a unique opportunity for community banks to capitalize on their local presence and foster relationships with high-performing businesses, ultimately leading to increased deposits, loan demand, and overall growth.

In a recent article for Bank Business, Jeff Grobaski, CEO of Epic River, highlights the transformative potential of end-to-end digital lending platforms for both borrowers and lenders. Key Takeaways: Enhanced Borrower Experience: Digital platforms simplify and expedite the loan application process, providing borrowers with greater convenience and transparency. Increased Efficiency and Revenue: For lenders, digital lending streamlines operations, leading to reduced costs, faster processing times, and ultimately, increased revenue. Improved Risk Management: Digital tools enable lenders to more effectively analyze borrower data, improving risk assessment and decision-making. Cost Savings and Agility: By eliminating manual processes and paperwork, digital platforms reduce operational costs and create a more agile lending environment. Grobaski emphasizes that embracing digital lending is no longer a luxury but a necessity for financial institutions to remain competitive and meet the evolving needs of borrowers. The digital transformation of lending promises to benefit all parties involved, fostering a more efficient, customer-centric, and profitable lending landscape.

In a recent interview with FinTecBuzz, Jeff Grobaski, founder and CEO of Epic River, delves into the company's evolution from a digital lending platform to a healthcare-focused payment solutions provider. Inspired by a client's need to streamline loan processes for healthcare providers, Epic River recognized a gap in the market and developed a purpose-built module to address the unique challenges of patient lending. With the passing of the Affordable Care Act, the demand for efficient and user-friendly payment solutions in the healthcare sector surged. Epic River seized this opportunity and expanded its platform to connect banks and credit unions with healthcare providers, simplifying patient payments and improving the overall financial experience for all parties involved. Grobaski's insights highlight the importance of adaptability and innovation in the fintech industry. By identifying emerging trends and responding to the specific needs of clients, Epic River has successfully carved a niche for itself in the healthcare payment space. The company's ongoing commitment to streamlining financial processes and enhancing the patient experience solidifies its position as a key player in the evolving landscape of healthcare finance.