LOS ANGELES, May 2, 2018 – FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global FinTech market, today announced that it has selected Sageworks, a Raleigh, N.C., headquartered firm that offers lending, credit risk and portfolio risk solutions to U.S. financial institutions, as winner of the “Business Lending Innovation Award” in the international 2018 FinTech Breakthrough Awards program.
“While we have seen tremendous innovation in the field of consumer lending, unfortunately the category of business lending hasn’t traditionally experienced that same level of innovation,” said James Johnson, Managing Director, FinTech Breakthrough. “We were thrilled to see leading companies such as Sageworks take on this challenge in delivering a high-level of innovation in business lending, and we congratulate Sageworks on standing out from the pack to earn a well-deserved 2018 FinTech Breakthrough Award.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2018 FinTech Breakthrough Awards program attracted more than 3,000 nominations from across the globe.
“We are extremely grateful to receive this 2018 FinTech Breakthrough Award distinction for our focus on business lending innovation,” said Scott Ogle, CEO of Sageworks. “Our primary focus will always be our customers, and we are proud to deliver a streamlined lending experience with innovative digital channels and workflows that help our customers grow and find success by partnering with Sageworks.”
With Sageworks Lending Solution, banks and credit unions can grow revenue through digital and automated processes. From analyzing and approving loans quickly based on automated templates, to workflow rules that guarantee consistency and thorough documentation, Sageworks streamlines the customer process to modernize the overall business lending experience.
Sageworks stands apart from other vendors because the company’s offerings span both lending and risk, which provides significant information efficiency and risk management gains. The integrated technologies make it easy for business lending organizations to scale without sacrificing credit quality. In a study of Sageworks’ clients versus their peers, clients saw an average 38% higher loan growth and an average 12 basis points higher yield on business loans.
About FinTech Breakthrough FinTech Breakthrough, part of the Tech Breakthrough Awards organization, is an independent awards and recognition platform devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit www.FinTechBreakthrough.com.
About Sageworks Sageworks offers banks and credit unions lending, credit risk and portfolio risk software to efficiently grow and improve the borrower experience. By automating the life of the loan with Sageworks, bankers book commercial loans faster and reduce risk. Sageworks uniquely provides integrated solutions and industry expertise to more than 1,200 financial institutions that achieve an average 38% higher loan growth than peers. Visit www.sageworks.com to learn more.
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