Digital lending used to be a “nice to have” feature in the community banking world; now it is considered table stakes. While digital transformation was already underway with online applications, mobile banking apps, and more, the use of digital solutions skyrocketed during the COVID-19 pandemic. 

Epic River has been a premier lending innovator for over a decade. Through the Platform@EpicRiver, community banks and credit unions have been able to better serve their communities through a variety of online lending programs. Our latest solution focused on driving fee income, Notary@EpicRiver, speeds up the lending process and leverages existing on-staff notaries.

Waiting to see what Congress does about PPP loan forgiveness is a risky choice for financial institutions. Large banks and credit unions are already communicating with their borrowers about how to prepare for loan forgiveness and are going to start processing applications in a couple of weeks.  Borrowers are getting impatient -- and there will be tax implications for carrying loans into 2021. The SBA is ready, your borrowers are ready, we have a portal to streamline the whole process for you. Let’s get started. 

Great job! You’ve helped your members and borrowers access the capital they need to stay solvent through the last several months.

Here is a recording our webinar about how educating your customers can reduce your risks. During this recording, you will learn:

Here is a recording of a discussion between three experts in PPP loan forgiveness. During this recording, you will learn:

Congress reconvenes to discuss the bill introduced early in June that would drastically simplify forgiveness for PPP loans under $150K, by automatically qualifying them for forgiveness. There are three ways this decision could go, make sure your financial institution is ready!

Consumers with little or poor credit, poor repayment histories, and longstanding negative account balances are, understandably, not typically thought of as “ideal customers” for banks and other financial institutions. Indeed, these profiles, along with consumers with low or volatile incomes, have long been flagged as too risky to fully serve.

Growth and Profit at Community Banks and Credit Unions At the end of every year, pundits like to publish think pieces on banking industry trends. 2019 is no different, so we thought we’d add our hat to the ring with our predictions for what will most impact growth and profit at community banks. Please read on for our five top picks for banking industry trends!