US-based People’s United Bank has selected real-time lending solution from fintech company FIS to further enhance and digitise its lending process.
Under the collaboration, the lender will deploy the FIS Real-Time Lending solution, which is developed in partnership with Numerated Growth Technologies.
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People’s United Bank senior executive vice-president of retail banking Sara Longobardi said: “We pride ourselves on our ability to provide customers with a unique value proposition though the integration of technology enhanced by our expert bankers.
“This new digital business lending solution from FIS and its partner Numerated is the next step in that journey, and reaffirms our commitment to partnering with innovative fintech companies who understand the dynamic needs of our customers.”
What FIS Real-Time Lending solution provides?
The real-time lending solution utilises data analytics technology to automate various processes associated with loan offering life cycle.
It is said to be capable of carrying out credit reviews, risk profiling, pricing and loan closing in quick time.
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By GlobalDataAdditionally, it will enable People’s United to pre-select potential customers and offer them personalised loans, the technology vendor said.
FIS Integrated Financial Solutions COO Bruce Lowthers said: “People’s United Bank is known for its focus on providing extraordinary customer service through its extensive network across the Northeast and beyond.
“This new Real-Time Lending solution will enable the bank to further enhance its services to its business customers by better supporting their lending needs with speed, ease and accuracy.”
Headquartered in Connecticut, People’s United is a subsidiary of People’s United Financial with $44bn in assets.
The bank has 400 retail branches across Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.
