Driving Instant Risk Decisions for SME Lending in Asia-Pacific
How to Accelerate Your SME Lending Process Financial services organizations can find lending to small and medium-sized enterprises (SMEs) challenging. Even though SMEs represent an overwhelming majority of businesses in APAC traditional lending institutions may not be able to offer approvals or funding to SMEs for up to 10+ weeks. Fintechs are rising to the challenge, with automated risk decisioning tech that provides instant approvals and funding in only hours. Are you ready to accelerate your SME lending process?
Slow Lane
Fast Lane
More complex, paper-heavy application process
Simple application process
Extensive documentation required with time spent aggregating all critical data
Automated decisioning
Manual processing and underwriting of risk decisions
Rapid approval
Approval and funding can take 10+ weeks
Funding received quickly – in some cases less than 24 hours
Comparing the Approval Experience
APP ROVAL
APPR OVAL
Hours
MAN UAL PROCESSING
A UTOMAT ED DE C I SI O NIN G
SUBMIT DO C UMENTA T IO N
APPLICAT IO N
A PPLICATIO N
Traditional Lender
Digital Lender
Bring SME Lending Into the Fast Lane (without accelerating your risk):
1.
Simplify the Application Process:
2.
Power Real-Time Risk Analytics:
3.
Lower the Cost of Approval:
Swap long forms, paper-heavy processes and in-person visits for online applications where customers can easily track progress and submit supporting info
Use risk-decisioning technology to analyze business data (not personal credit scores) and get instant access to the data you need
Automate the application process, easily integrate data, and power instant decisioning to save you time and resources, increasing your efficiency
Did You Know?
APAC is the continent with the highest number of SMEs in the world, contributing anywhere from 17-50% of the GDP depending on the country
SMEs represent more than 90% of businesses in APAC and employ between 60 and 80% of the workforce
SMEs say access to finance is one of the largest obstacles to growing their business in emerging markets and developing countries
54% of SMEs surveyed by UOB said that their existing cash flow can only sustain them for less than six months
45% of SMEs in the region remain concerned about the need to transform their business models, particularly in the area of digitalization
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Sources: World Bank – https://www.worldbank.org/en/topic/smefinance Fundera – Small Business Lending Statistics and Trends 2021 – Published December 2020: https://www.fundera.com/resources/small-business-lending-statistics SME Finance Forum - https://www.smefinanceforum.org/post/the-role-of-smes-in-asias-economic-growth UOB Group - https://www.uobgroup.com/techecosystem/news-insights-smart-tools-help-smes-grow-despite-inflation-cash-flow-woes.html?filter=.Insights