Consumers want short-term digital loans, but financial institutions are losing out because their current methodologies are not profitable.
LOUISVILLE, Ky. (PRWEB) November 09, 2017
BSG Financial Group, a provider of revenue-enhancement programs and compliance solutions for financial institutions nationwide, announced today that it will present an educational webinar entitled "The Emerging Digital Lending Opportunity for Community Financial Institutions” on Tuesday, November 14 at 2 p.m. EST. The free webinar, hosted by CPA firm Porter Keadle Moore (PKM), will outline how financial institutions can streamline lending processes, increase loan revenue and recapture loans lost to non-bank lenders using digital lending technology. Financial executives can register for the webinar at the following link: http://www.pkm.com/event/the-emerging-digital-lending-opportunity-for-community-financial-institutions/#register.
PKM is hosting this webinar to educate community and regional banks about the rapidly growing digital lending market and its tremendous earnings and savings potential. “Digital lending technology provides a profitable way for community banks to deliver consumer loans under $30,000 and small business loans under $100,000 in only minutes on computers and mobile devices,” said Jeffrey Harper, president of BSG Financial Group. “Consumers want short-term digital loans, as evidenced by the impressive growth of non-bank and Fintech alternatives, but financial institutions are losing out because their current methodologies are not profitable,” he said.
Currently, community financial institutions hold fewer than 10% of small business loans under $100,000 and 5% of consumer loans under $50,000. The webinar addresses this area of underperformance and offers solutions to expanding loan sales, improving speed of service and efficiency, and enhancing customer satisfaction with digital lending technology. “With digital lending technology, there is an alternative that can keep financial institutions competitive in protecting their customer base from alternative lenders, while also garnering new loans and deposits,” said Harper.
During this 60-minute webinar, the presenter Trevor Knott, senior vice president at BSG Financial Group, will outline the following:
- The $30 billion income opportunity for community banks documented by multiple studies, including potential ROA
- The requirements for a superior digital and mobile lending experience
- How digital lending manages loan applications, adverse action, Reg B and other compliance efficiently and with no paper or staff time
- The way financial institutions control underwriting, compliance & data security, and keep the loans on their balance sheets
Who: BSG Financial Group in conjunction with Porter Keadle Moore
Presenter: Trevor Knott of BSG Financial Group
When: Tuesday, November 14, 2017; 2:00 PM - 3:00 PM EDT
About BSG Financial Group
Louisville, Ky.-based BSG Financial Group is a group of independently organized companies that provides revenue-enhancement and compliance solutions for financial institutions nationwide. BSG Financial Group has been a provider of innovative overdraft programs since 1999, including the industry's first cloud-based overdraft management solution, Courtesy Connect®/Courtesy Limit™.
The company's additional revenue-enhancing solutions include: Fee-Based, Packaged Checking Accounts; MinuteLender® and Business MinuteLender® Digital Lending Technology; Vendor Management; Account Acquisition Strategies; Social Media Management; and CD Sales Strategies.
BSG Financial Group includes the following companies: CourtesyCloud Management Solutions, LLC; BSG Financial, LLC; and IQ Development, LLC. For more information about the company, visit http://www.bsgfinancial.com.