Biz2Credit Launches Biz2X, a Global SaaS Lending Platform for Banks
Digital Lending Platform to Give Banks AI-Driven Loan Management
NEW YORK, NY, May 21, 2019 — Biz2Credit Inc., the leader in online small business finance, today introduced Biz2X, a new turnkey global SaaS platform to enable financial institutions to provide a customized online lending experience for their small and midsize business customers.
The Biz2X Platform is the natural outgrowth of Biz2Credit’s established platform software that brands like HSBC and Popular Bank have chosen to launch new online lending initiatives. With enhanced loan management, servicing, risk analytics and a configurable customer journey, Biz2X is helping banks like these run their lending operations at scale. Biz2X uses a streamlined user interface, AI-driven analytics and a customizable white label environment to help banks enhance their core services such as offering focused customer service, growing their portfolio, and increasing the use of their products. The Biz2X Platform offers end-to-end loan management features, including: • Loan Level Pricing • A Risk Analytics Tool Suite • Credit Policies Configured to Banks’ Needs • An Intelligent, Dynamic Application for Each Product Type • Low to No IT Work Required • Cross-Device Compatibility In the conventional banking model, the lending process is paperwork-heavy for the customer and expensive for the bank. The Biz2X Platform is designed for banks that are ready to streamline that process. "Biz2X is built on the same technology that has helped Biz2Credit become the premier digital lending platform for small businesses. Our clients get to use that expertise to automate their small business lending and improve their pricing and credit decisions,” said Rohit Arora, Chief Executive Officer and Co-Founder of Biz2Credit. Biz2Credit has been perfecting and optimizing its online lending platform since 2007 for over 225,000 small business customers. Biz2X provides this proprietary technology to banks so they can make accurate credit decisions instantly and offer loans to their small business clients within a day. “Biz2X continues our long history of building innovative digital solutions in the fintech space,” said Vineet Tyagi, Global Chief Technology Officer at Biz2Credit. “Biz2X is designed on a microservices architecture that allows it to connect seamlessly into other tools across the whole technology ecosystem. The platform is also SOC-2 certified, which means it has passed the industry’s highest level of security testing.” “Initial implementations at our global customers — HSBC, Popular Bank and others — have provided important learnings and increased our enthusiasm of the value Biz2X can provide to our customers,” Tyagi added. “We remain committed to deep investments in the platform as we serve the unique client needs brought about by an ever-evolving credit environment.” Advances in risk management are among the greatest benefits for Biz2X customers. Biz2X uses artificial intelligence (AI) and machine learning (ML) extensively to automate key risk assessment tasks. Through a combination of natural language processing, image analytics and using data from tens of millions of financial transactions by small and medium businesses, Biz2X offers banks a way to automate manual tasks in the underwriting process and improve the customer experience. “Good lending platforms must provide end-to-end credit control from underwriting to collections and must have built-in intelligence and regulatory controls to serve clients in both current and a challenging economic environment ahead,” says Ash Gupta, former Chief Risk Officer of American Express ($AEXP). “This is where Biz2X excels over all its competitors.” To learn more about the Biz2X Platform, visit www.biz2X.com. About Biz2Credit Biz2Credit was founded in 2007 with one goal: make the business financing process work better for lenders and their customers. Biz2Credit’s mission is to provide small businesses with industry-leading lending solutions throughout their lifecycle in a flexible and transparent environment. The company offers the Biz2X Platform to banks and other financial institutions to allow them to better manage loan processes and related risks. For more information about Biz2Credit and Biz2X, visit www.Biz2Credit.com and www.Biz2X.com.
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