US-based small business lender Zions Bancorporation has deployed Mirador platform to streamline the loan application process for customers.
Mirador’s lending platform has enabled Zions Bancorporation’s affiliates to provide a digital, omnichannel, application experience to loan applicants.
Zions Bancorporation claimed that the platform also improved efficiencies within the bank, which has $70bn in assets.
The digital platform allows borrowers to apply for loans from any location, any time and from any device.
Applicants can also save time by working with systems such as Quickbooks that small business owners use every day.
Mirador platform consolidates loan application data
The bank said that the platform consolidates data for loan applications and streamlines communication between departments and teams.
Zions Bancorporation said that banks are seeking solutions to make time-consuming processes more efficient for customers to remain competitive.
Zions Bancorporation executive vice-president and enterprise business banking director, Lori Chillingworth, said: “Since deploying Mirador with a trial launch in late 2018, we’ve been impressed by the response from our clients who appreciate how the convenient and simple digital loan application process works with their demanding schedules.
“We look forward to maintaining our much faster application response time while helping small business owners access attractively-priced capital.”
Mirador CEO and co-founder, Trevor Dryer, said: “We find many applicants start the application process inside a branch and then head to their office to complete the process.
“Our platform allows the transition from branch, to office, to mobile to remain seamless for the applicant.
“We’re excited to be working with the Zions team to digitize its lending process so it can continue to provide its existing and prospective customers with the best products and a simpler, easier and faster experience.”
Zions Bancorporation operates in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.
Mirador, which works with banks and credit unions, has processed more than $2.5bn in small business loan applications.
In April this year, Zions Bancorporation selected D3 Banking Technology to boost digital capabilities across its seven branded-affiliates.