David Zweifler leads communications for the Global Lending Solutions (GLS) division of D+H, and has more than 20 years of experience in content marketing. David’s career has taken him to Asia and back, and spanned equity research, journalism, and corporate communications. For the last decade, David has worked in-house in financial technology firms ranging from startups to global, publicly listed firms. When David isn’t podcasting, blogging, and talking to reporters, he enjoys cycling, reading, and being outsmarted by his three children.
You are hereResourcesOur ViewpointsBanks and Credit Unions Close the Gap in Commercial Lending
Things look rough for banks and credit unions when it comes to commercial lending.
On one side, the high costs of regulation have led many traditional financial institutions to step back from commercial lending, especially with loans geared towards small- and medium-sized business borrowers.
On the other side, alternative lenders have moved aggressively into the commercial lending space and, with the advantages of lower overhead, powerful user experiences and easy access to investor funds, have proven to be formidable competitors.
To be sure, some experts see the tide turning for banks and credit unions in commercial lending.
David Boswell, head of new lending products for D+H, says that there is some call for optimism, as rising interest rates and improved technology solutions make traditional financial institutions more competitive while exerting the opposite effect on alternative lenders.
At the same time, there are some problems in commercial lending that technology does NOT solve for many banks and credit unions – these include required changes in the mindsets and business models of these financial institutions.
We had a chance to discuss these opportunities and threats for banks and credit unions with David for the Lending on Call podcast.
Our interview explored:
- How Dodd Frank set the stage for disruption in commercial lending
- Alternative lenders moving beyond single-service offerings to build deeper relationships with borrowers
- How banks and credit unions have a short-term edge, but doing nothing is not an option
- The long term prospects for alt-lenders
- How the most potent, disruptive threat from alt lenders is just making itself known
- How do fintech providers like D+H help banks and credit unions compete with alt lenders?
- Total Lending™ Small Business and how it’s helping streamline commercial lending for small businesses borrowers online
- The problems that banks and credit unions face in commercial lending that technology cannot solve.
Hear the complete interview here.
Having trouble playing this file? This interview is also available on SoundCloud.
Learn more about how new technology is supercharging commercial lending at one credit union. Or take a look at D+H’s new Total Lending Small Business solution for commercial lending.