With the U.S. economy poised to rebound from the pandemic, small businesses need fast access to capital and to banking services. In response, Prelim, a fintech provider that optimizes digital banking experiences for financial institutions, has announced enhanced digital account opening (DAO) capabilities for business banking accounts and a Status Center tool that helps institutions better collect, centralize and access business customer data to generate pre-approvals and expedite SMB loan applications.
“At Pacific Western Bank, we’re working to optimize the business banking experience, tailoring specific products and services for business customers and identifying solutions to help meet their banking needs,” Mark Yung, COO at Pacific Western Bank, said. “With Prelim’s easy-to-use platform, we were able to build and launch over 40 new applications to better support our treasury services and business banking efforts, all the while streamlining our back-end processes.”
“While the financial services industry has seen improvements in the quality of the digital experience for consumer banking, the same level of innovation has not extended to the world of business banking,” Heang Chan, CEO at Prelim, said. “Universally, small business owners value convenience, ease-of-use and fast access to capital from their business banking partners, and those institutions that meet that need – or better yet, exceed expectations – are best positioned to gain a competitive advantage in the marketplace.”