Luminous launches Business Loan Pre-Approver Solution

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Luminous, a boutique, banking innovation company, released its latest innovation this week, a business loan Pre-Approver solution that assists businesses to see if they will qualify for a loan before going through the bank's approval processes. For banks, Pre-Approver increases the number of SME's applying for loans and identifies borrowers who meet the bank's serviceability criteria.

Banks are under immense pressure to attract more business loan customers however we are finding customers are reluctant to apply as an unsuccessful loan application could negatively affect their credit rating.

According to Luminous CEO, Warren Bond, ‘Banks are under immense pressure to attract more business loan customers however we are finding customers are reluctant to apply as an unsuccessful loan application could negatively affect their credit rating.’ He goes on to state that, ‘we developed our Pre-Approver solution to enable banking customers to safely and anonymously simulate the approval process before proceeding with a loan application.’

Banks and their customers will benefit from this solution as it reduces the amount of time banks spend on the screening process and easily converts customers who are successful in the pre-approval process into formal loan applications. Unsuccessful applicants will also receive valuable feedback to help them improve their chances without any impact on their credit rating with the bank.

About Luminous: Luminous is a boutique innovation company that has successfully introduced a number of global firsts into the banking world. Luminous' unique business case driven approach delivers excellent ROI for banks. Founded in 2007, Luminous has operations in the United Kingdom, South Africa, Australia and India.

For more information email Philippa Newnes at philippa.newnes@luminousbanking.com.     Website:http://www.luminousbanking.com, Twitter: @luminousbanking

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Philippa Newnes
Luminous
+44 207 692 4080
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