BOSTON, March 16, 2021 /PRNewswire-PRWeb/ -- Numerated, the fast-growing fintech leading the digitization of business lending at banks and credit unions, has been selected as the winner of the "Best Overall Business Lending Company" award in the fifth-annual FinTech Breakthrough Awards program. The award is presented by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.
Numerated makes business lending easy for financial institutions and their business clients by using data. Its award-winning digital lending solution pulls in data at each stage of loan origination, including pre-filling applications for borrowers, aggregating data to speed reviews and offers, and creating execution-ready document packages for fully digital closings. To date, more than 400,000 businesses have used Numerated's digital application and borrowing experience to process $50B in lending.
In 2020, Numerated's innovation took center stage as lenders embraced digitization during the COVID-19 pandemic. Since the launch of the Paycheck Protection Program (PPP), Numerated has grown into a strategic partner for institutions of all sizes, working to distribute more than $40 billion in relief funds into the hands of small businesses. The platform processed $400 million per hour at peak PPP loan demand, ultimately reducing the time it takes financial institutions to process loans from on average 15 hours to less than two.
Today, more than 140 banks and credit unions totalling $1 trillion in combined assets use Numerated to create award-winning digital borrowing and account opening experiences for businesses.
"During a time when every hour, minute, and second counts, our platform brings the speed and efficiency needed for lenders to best serve their business clients' needs, no matter the circumstances," said Dan O'Malley, co-founder and CEO of Numerated. "Being recognized this year by FinTech Breakthrough as 'Best Overall Business Lending Company' is a proud milestone for us and I consider it a testament to the hard work and innovative approach that is embraced by the entire Numerated team and client base."
"Numerated is breaking through the fintech space again this year by extending its technology to even more areas of business banking and innovating quickly to help banks and credit unions address the COVID-19 pandemic," said James Johnson, Managing Director, FinTech Breakthrough. "The Company has shown incredibly high levels of innovation and we are thrilled to name them our 'Best Overall Business Lending Company' in the 2021 FinTech Breakthrough Awards program."
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2021 FinTech Breakthrough Award program attracted more than 3,850 nominations from across the globe.
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About Numerated
Numerated is a fast-growing fintech that makes business lending and account opening easy by using data. Financial institutions use Numerated's platform to meet business clients' expectations for digital convenience, including easy-to-launch digital application, digital lending, and digital account opening solutions. More than 400,000 businesses have trusted Numerated to process $50B in lending across 140 financial institutions, including Bremer Bank, Dollar Bank, Eastern Bank, MidFirst Bank, Montecito Bank & Trust, People's United Bank, Pinnacle Bank, and more. The company was recently recognized as one of 2020's Top 250 FinTechs by CB Insights and 2020's Most Innovative Industry Partner by Barlow Research Associates.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
Media Contact
Sal Trifilio, Numerated, +1 2019837022, [email protected]
SOURCE Numerated
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