The National Association of Government Guaranteed Lenders (NAGGL) Spring Conference recently brought together lenders, regulators and technology providers to discuss the latest developments in commercial lending.
This year’s conference featured a range of new technology solutions that promise to transform the lending landscape. In this article, we’ll take a closer look at some of the highlights from the conference.
New Commercial Lending Technology
One of the major themes of this year’s NAGGL Spring Conference was the emergence of new lending technology solutions. Attendees were introduced to a number of new loan origination systems (LOS) and valuation companies, but two different types of technology stood out: Shatterbox and Lumos.
Shatterbox is a new platform that aims to address the talent gap in commercial lending. The platform uses artificial intelligence and machine learning to automate many of the tasks involved in underwriting a loan, allowing lenders to focus on more complex tasks.
Lumos, on the other hand, provides insights via predictive analytics about companies using data from both public and private sources. This platform can help lenders better understand a borrower’s financial health and make more informed lending decisions.
We look forward to working with them closely in the months ahead.
Keynote Speakers and Highlights
Several keynote speakers presented at the conference, each offering valuable insights on the future of commercial lending. Annmarie Murphy, Executive Vice President, President of SBA Lending from First Bank of the Lake, gave a presentation on automation. Although we weren’t there to hear it, rumor has it that Annmarie highlighted the importance of tools like FlashSpread, which can streamline the underwriting process and reduce the time it takes to close a loan.
Other highlights from the conference included discussions on the lessening requirements to underwrite a commercial loan and new rules on how to define affiliates. It remains to be seen what new challenges or efficiencies are to be gained from the new guidelines. I’m sure we’ll all be keeping a close eye on this one.
It was great to see some of our existing partners and friends, like Biz2x, Novatraq, Spark, LendUX, Newtek, Lenders Cooperative, GCF Valuation, Tax Guard, Peak Business Valuation, Trillicom.
The NAGGL Spring Conference was a great opportunity for lenders, regulators and technology providers to come together and discuss the latest trends and innovations in commercial lending.
The emergence of new technology solutions like Shatterbox and Lumos promise to transform the lending landscape, while the insights from keynote speakers, like Annmarie, provide valuable guidance for lenders looking to streamline their processes and improve their lending practices.
Don’t wait until the next NAGGL conference to modernize your process. Reach out for a demo today. Otherwise, we’ll see you in New Orleans.
Mention NAGGL for a discount.