“Regardless of the odds of success for individual FinTech attackers, banks must seek important signals amid the FinTech noise in order to reposition their business models and cultures for success.
There is no time to lose.”
-- McKinsey, December, 2015
What is the CLS Innovation Center?
Banks have many advantages that FinTechs lack - established customer relationships, vast capital holdings and a working knowledge of today’s complex regulatory climate. However, it has been difficult for many banks to determine how to use the latest technology to innovate in a meaningful way. Thanks to highly accessible and versatile cloud models, those business dynamics are changing fast. What if your bank could define its strategy and deliver functional innovation in four months?
Cloud Lending Solutions (CLS) is the market-leading technology platform that powers the FinTechs. We can bring meaningful, competitive innovation to your bank in 4 months or less. The CLS Innovation Center helps banks and credit unions overcome their hesitation to invest in new lending models and proactively embrace a new wave of opportunities.
The CLS Innovation Center has established a proactive model: we help you explore what is possible by actually doing it. Remember, the greatest strength of FinTech is being able to move fast and adopt a targeted, laser-like focus. The CLS Innovation Center enables banks and credit unions to match the strengths of FinTech so they don’t merely compete, but thrive.
Advantages for participating financial institutions
Top 3 Industry Challenges
- Omnichannel borrower experience
- Profitable small business and SBA lending
- Next generation underwriting
Key Benefits of the CLS Innovation Center
- Focus on bringing the best of fintech to banks and credit unions
- Leverage new and innovative data for underwriting models
- Banks can innovate with an industry leader
- Delivery of real, important innovations in 4 months
- Frameworks for strategy and execution for immediate use
- Fintech borrower experience - design mobile first
- Big data credit scoring and risk models
- Lower cost of operations, technology agility