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

Epic River, a leading lending-as-a-service platform provider, has announced its integration with Finastra's LaserPro loan documentation system. This partnership aims to significantly streamline the loan closing process for financial institutions by automating data transfer and document generation.

Epic River has introduced a new platform designed to connect credit unions with healthcare providers, opening up new avenues for financing in the healthcare sector. This innovative approach aims to benefit both credit unions and healthcare providers by offering a simplified and streamlined lending process. For healthcare providers, this platform can provide a much-needed source of reliable cash flow through patient loans. This can be particularly beneficial for smaller practices or those facing financial challenges. On the other hand, credit unions can tap into a new source of high-quality loans, potentially expanding their portfolio and increasing interest income opportunities. Epic River's solution focuses on making the lending process more accessible and efficient. By facilitating loans between credit unions and healthcare providers, the platform indirectly supports patients by offering them more manageable payment options for medical bills. This new platform could mark a significant shift in healthcare financing, demonstrating the potential of collaboration between financial institutions and healthcare providers. As the healthcare landscape continues to evolve, innovative solutions like this could play a crucial role in ensuring financial sustainability and accessibility for all stakeholders.

Epic River, a lending-as-a-service platform provider, has announced the launch of a new digital platform specifically designed for credit unions. This platform aims to facilitate patient financing by connecting credit unions with healthcare providers, thereby expanding credit unions' lending capabilities.

In an era of evaporating deposits, community banks find themselves at a pivotal crossroads. As the dust has settled from a tumultuous first half of this year, financial institutions are looking to learn from others' mistakes. Bank boards have taken action to improve interest rate resiliency and leadership teams have identified areas ripe for efficiency improvement but the area still in dire need of innovation is deposit account identification and capture. This begs the question: Are community banks tapping into the right customer base? Is there an opportunity to solve a market problem that could, in turn, solve one of banking's biggest problems?

As technology continues to shape the way we conduct our financial transactions, it's becoming increasingly clear that FinTechs and online lenders are challenging the traditional model of banking. However, community banks are not sitting idle in the face of this disruption. Instead, they are embracing BankTech partnerships to leverage their current suite of services and stay ahead of the curve.