Small Business Loan Origination Platform



In the small business lending space, banks struggle to deliver loans quickly, conveniently, and profitably. Akouba understands these and other challenges banks face when originating small business loans. With a secure cloud-based SaaS platform that more efficiently gathers and aggregates “more and better data,” banks are able to streamline loan workflow from application to funding with Akouba Now and provide a better experience for both customers and bankers with the end-to-end small business loan origination platform. The end result for the bank is more profitable loan portfolio growth, increased cross-sale penetration, and increased new relationship acquisition.

ABA members receive preferred pricing.  


 

 Program Benefits

 
  • Reduced End-To-End Time. The omni-channel access and automation streamlines workflow for both the customer and the bank and maximizes efficiencies of both front and back office staff. Akouba's clients are experiencing up to 66% decrease in end-to-end time.

  • Increased Profits. The Akouba system enables banks to make loans that are otherwise unprofitable and cost prohibitive to process.  Akouba's clients are experiencing a reduction in cost per loan booked of more than 50%.

  • Better Experience for Bankers and Customers. Customers benefit from faster end-to-end time, quicker access to the capital they need, and the convenience and flexibility of omni-channel access, as well as their bankers' ability to leverage data to more comprehensively to serve their needs.  As a result, both customer and banker retention is maximized.

  • Seamless Feature Updates & Improvements. Akouba’s platform  provides ongoing updates for feature releases, user experience updates, bug fixes and industry regulation updates. 

 

 Key Features

 
Akouba Now: Omnichannel Application & Borrower Portal
Akouba Now streamlines the application and onboarding process without necessarily engaging in the full Akouba digital lending platform. Akouba Now's simple and secure portal  enables your customers to easily input all data you need to make a lending decision, and can be used across banks' retal portfolios. Key features include:
  • Secure Login: Enables borrowers to complete their application on their own or with the help of their banker, in multiple sessions or all at once.  The bank benefits from an immediate email capture to use for leads.

  • Modular Application: Using a simple and engaging online process that ensures borrowers see the application to its end, completion rates are greatly increased and bankers' efforts to chase down information to complete the application is minimized. 

  • Dynamic Questions: The digital application reduces confusion and time by asking top-level questions then, when necessary, digs down deeper to discover additional details.

  • Document Uploads: The platform provides the ability to upload documentation straight to the bank, saving the banker time and providing a simpler, more convenient process for the customer.

End-to-End Small Business Loan Origination Platform
In addition to everything in the Akouba Now platform, the small business loan origination platform captures all borrower information and packages it in a manner that improves workflow and visibility for all departments. Consequently, your team is able to work more cohesively throughout the origination process and maximize the productivity of the customer data.
  • Pipeline View & Lead Generation: The Akouba system empowers you with the ability to track how many people are viewing, starting, and completing your application, enabling you to forecast the week ahead more efficiently.

  • Manage Documents Easily:  After submission, borrowers can use the same portal throughout the remainder of the lending process to accept terms, provide additional documents, and ultimately close the loan digitally.

  • Workflow Tracking:  The platform provides visibility for each stage in the application process, showing which stages have been completed along the way. The solution facilitates cross-departmental communication so every member of your team can stay on track  to accelerate the loan’s end-to-end time.

  • Automated Document Management: Documents live in one central location and can be systematically requested and uploaded through the portal. The technology automatically sends out requests for documentation and continues to do so until the required information has been collected.

  • Risk Rating & Financial Analysis: Akouba's platform collects and aggregates all of the data the bank needs to decision a loan, then compares that data to the bank’s unique credit policy and risk rating metrics to enable the underwriting team to quickly assess credit worthiness and provide the banker with valuable insights into the business. This process gives bankers a competitive advantage in the marketplace, increases banker productivity, and grows revenue for the bank.


 

 Before We Recommend, We Research

 
 

 Resources

 
The Bank-Akouba Partnership: Compare the current small business loan process v. Akouba's automation.

Akouba Now's Benefits


 

 Webinar Recordings

 
Providing a Better Experience for Digital Small Business and Commercial Lending
Download the recording.
 

 Program Contacts

 
ABA Endorsed Solutions
Helen Sullivan
(202) 663-5167

Debbie Whiteside
(202) 663-5580

Akouba Contact
Mike Dillon
(312) 448-7424

 
For more information, please visit https://akoubacredit.com/aba.