Hyphen

The majority of banks still rely on manual processes for underwriting loans, which means it costs a bank the same amount of time and money to process a $1,000,000 loan as it does a $1,000 request. Not surprisingly, the average bank determines nearly 8 out of 10 loan requests to be unprofitable. With more than 50% of bank borrowers complaining about tedious applications and glacial timelines, many are heading online for easier, faster funding. As a result, banks that dont evolve (and quickly) to meet the demands of an increasingly digital market will continue to lose clients, marketshare, and profits. Hyphens fully automated, technology-enabled lending platform makes the entire loan process faster, easier, and considerably more cost-effective for both bank and borrower. The Hyphen lending platform significantly reduces acquisition cost and underwriting expenses, while increasing conversion and capital deployment. This enables banks to better serve existing clients, expand market reach, and increase profits with low risk and minimal resources.