The American Bankers Association, through its Corporation for American Banking subsidiary, today endorsed the digital lending solution for small business loans offered by Akouba. The solution — offered to ABA members with preferred pricing — provides community and regional banks with a cloud-based, white-label origination and underwriting platform for small business loans.
Akouba’s platform allows banks to maintain and grow their own customer relationships and integrate their own credit policies while offering an online user-friendly process that handles the loan from application to funding. Banks using the platform report a major reduction in end-to-end time and are making loans that would not have been profitable without the platform.
“The small business loan application process is very time-sensitive and costly for banks, and there is a need to simplify and accelerate the process,” said Bryan Luke, chairman of ABA’s Endorsed Solutions Banker Advisory Council and president and COO of Hawaii National Bank in Honolulu. “Akouba was chosen because they have established an effective and reliable platform for banks to execute the business lending process quickly, efficiently and profitably while also delivering a great customer and banker experience.”
The endorsement followed ABA’s extensive due diligence process, including Akouba’s ability to assess and manage risk and to comply with proposed guidance on third-party lending. For bankers interested in learning more, ABA will host a free webinar on March 8.
