Rapid Finance

The Rapid Finance team is headed to Las Vegas for Money20/20! We're excited to connect with industry leaders, explore cutting-edge financial innovations and bring back insights to empower businesses with smarter financing solutions. Are you attending? Be sure to chat with the team to discuss how our innovative solutions can enhance your small business lending. https://hubs.ly/Q02VRH9T0 #Money2020 #SMBLending #DigitalBanking

Our CEO, Will Tumulty, was just featured in BankBeat to discuss how consumer data is playing a crucial role in the fight against fraud in business lending. At Rapid Finance, we’re committed to using data-driven insights to protect lenders while providing faster financing solutions for businesses. Read the article here: https://hubs.ly/Q02VbXFh0

Our Finovate Fall 2024 demo is now live! Our team presents how Lynx drives lending innovation by standardizing disparate datasets and identifying related records through proprietary pattern-matching AI algorithms. Learn how Rapid Finance is transforming the future of small business lending with Lynx. #FinovateFall2024 https://hubs.ly/Q02TP3Hz0

With Connecticut launching new financing disclosure requirements, our API is ready with updates to support these lenders.

Heading into the afternoon session of Spring Labs’ AI-Native Banking & Fintech Conference was a great group dialog on “AI’s Role in Streamlining Entity Risk Profiling” with Rapid Finance CEO, Will Tumulty, Credit Pulse CEO, Jordan Esbin and S&P Global’s Head of Credit Analytics, Moody Hadi - with the former CEO of Funding Circle US , Steve Allocca moderating. The conversation focused on AI’s impact on credit modeling and credit risk assessment and where the challenges, and limitations remain, as well as opportunities to drive better insights and outcomes along with creating significant internal operational efficiencies. On the modeling front, Moody Hadi observed that while there is still considerable work to do in evolving reliable AI-amplified credit models, “computational costs have gone down and the ability to generate useful results has improved.” Meanwhile, Esbin and Tumulty both echoed a key theme raised by many speakers throughout the event - the critical importance of quality data. Esbin commented, “Data is the biggest challenge: how you format it, clean it, link it all together. 95% of our effort is in data - not the models themselves.” Tumulty continued that lenders need “to build a reliable data set - you’ve got to have your own data - all that upfront data - clean, organized and well maintained… and then tie it to your backend data which contains the algorithms - ideally in real time. The problem is that everyone’s data is a mess.” Clearly, the one of the greatest challenges for banks and other lenders contemplating the promise of AI is developing the strategy, discipline and organizational infrastructure to manage and maintain the data inputs. #AI #fintechinnovation #springlabs #datainsights #worktodo #datacleanup

Small businesses make up 99% of all U.S. companies, yet 38% lack the working capital necessary to finance their operations. This presents a huge opportunity for community banks to boost their lending portfolios by embracing innovation in small business financing. In BAI's latest article, Will Tumulty shares how Lending-as-a-Service (LaaS) technology, flexible financing options and quick decision-making can transform your bank’s approach to supporting local businesses and building “stickier” deposits. https://hubs.ly/Q02SwG980

Our very own Will Tumulty is heading to Salt Lake City for Spring Labs' AI-Native Banking and Fintech Conference. Will is set to speak during a session on AI’s Role in Streamlining Entity Risk Profiling. He will delve into how AI-powered profiling techniques are enhancing the accuracy and efficiency of business risk assessment. If you will be there, be sure to attend his session! https://hubs.ly/Q02Sf8950 #AINative #ArtificialInteligence #Banking #Fintech

In today’s competitive financial landscape, securing the right deposits is crucial for financial institutions. Learn more about what characterizes 'right' deposits and how a focus on attracting and retaining them can boost an institution's liquidity, profitability and long-term success. \https://hubs.ly/Q02R-LRn0

Exciting news! We’ve partnered with Gestalt to provide their clients seamless access our SMB SaaS lending solutions. Through this collaboration, lenders using Gestalt's advanced data warehouse solution can now integrate with our automated small business lending platform, Decisioneer. Additionally, they can use our Lynx fraud detection solution for enhanced data insights. Learn more: https://hubs.ly/Q02Rn0ws0