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John Marshall Bank launches fourth FinTech lending solution partnership

By Edlyn Cardoza

February 03, 2022

  • Abrigo
  • Built Technologies
  • Business Banking Services
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Business Banking Services, John Marshall Bank, Small Business Administration, LendUX, Reliant Business Valuation, Loan Processing Platform, Paycheck Protection Program, FinTech, Built Technologies, nCino, Abrigo, SMEs, USACommitted to offering business banking services, John Marshall Bank (JMB) announced it has entered into a definitive agreement with an innovative new Small Business Administration (SBA) 7(a) loan processing platform, LendUX from Reliant Business Valuation. This technology will enable JMB to provide its small business customers with greater and easier access to financing. The partnership marks the Bank’s fourth FinTech provider and highlights its commitment to advancing emerging financial technologies that ultimately better serve small and medium-sized businesses.

Upon successfully navigating the Paycheck Protection Program (PPP) and processing 1,096 applications over the past year, the Bank sought to leverage that same efficiency into processing SBA 7(a) loans. The recently launched LendUX platform was ultimately selected as the FinTech solution. This digital application enables business owners to apply for credit when and where it is most convenient for them, outside of traditional banking hours. Additionally, it streamlines and simplifies the application process for a seamless customer experience.

“Simplifying the process for busy entrepreneurs to secure funding that supports the growth of their business is more essential than ever. These partnerships enable us to provide our customers with leading-edge technologies making financial services more accessible while simultaneously differentiating the customer experience,” said Chris Bergstrom, President, and CEO of John Marshall Bank.

The Bank has further parlayed its use of technology by implementing a suite of other innovative technologies. Prior to the pandemic, JMB invested in Built Technologies, which provides a centralized, online solution for construction loan management. The platform gives the Bank and customers access to a real-time picture of their construction portfolio while simplifying the complex loan administration process. Further operational efficiencies have been gained by partnering with nCino and Abrigo. Built on the SalesForce platform, nCino contributes to back-end processing efficiency by tracking the full lifecycle of each loan and robust data reporting. Abrigo evaluates the Bank’s credit risk mitigation process through stress testing.

The Bank plans to continue to further evolve its offerings for small and medium-sized businesses and pursue other FinTech partnerships that drive operational efficiencies while improving the customer experience.

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