Fauquier Bank, a community bank based in Virginia, has teamed up with digital lending technology provider R.C. Giltner Services to launch a new digital lending platform for small businesses and consumers.

The new platform will allow the bank to offer online loans to small businesses and consumers instantly through a computer or mobile device.

The platform will enable banks to maintain control of the lending process from underwriting through delivery, and can be tailored to match processes and parameters set by the bank.

Fauquier Bank SVP for retail banking and marketing Mark Debes said: "We are known as a leader in delivering technology-driven solutions to our customers, and adding mobile lending helps us provide a solution that our customers can access whenever and wherever it's convenient.

"After watching the emerging digital lending space closely and evaluating options during 2016, we believe we've found the best solution for our lending strategy."

The solution is expected to be rolled out to businesses and consumers by the second quarter of 2017.

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By GlobalData