"The small business loan application process is very time-sensitive and costly for banks, and there is a need to simplify and accelerate the process," said Bryan Luke, chairman of ABA's Endorsed Solutions Banker Advisory Council. "Akouba was chosen because they have established an effective and reliable platform for banks to execute the business lending process quickly, efficiently and profitably while also delivering a great customer and banker experience." Luke is also president and COO of Hawaii National Bank in Honolulu.
"In a rapidly changing lending environment, and with marketplace lenders disrupting the business lending space, our platform will help banks bring their customers the technology they have been lacking," said Chris Rentner, CEO, Akouba. "The ABA's endorsement will give lending institutions the assurance that Akouba's solutions meet the highest standards."
Prior to awarding the endorsement, the ABA conducted an extensive due diligence process, which included evaluation by Aditya Khurjekar, CEO of Let'sTalk Payments, and oversight from ABA's Endorsed Solutions Banker Advisory Council. Careful evaluation led to this endorsement based on a number of factors including Akouba's ability to assess and manage risk as well as comply with the FDIC's proposed guidance for third-party lending to address common issues in the industry.
To learn more about Akouba's digital lending solution, ABA will offer a free webinar on Wednesday, March 8 at 2:00 p.m. EST. For more information on this and other endorsed solutions, visit www.aba.com/endorsed.
About American Bankers Association
The American Bankers Association is the voice of the nation's $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $9 trillion in loans.
Akouba is a cloud-based, white-labeled technology that enables the bank's customers and prospects to access diverse financing options and ensure better matching of a business's banking needs to the bank's solutions. The online, end-to-end, omni-channel business lending platform leverages leading edge technology and integrations to deliver a great customer and banker experience in a way that enables the bank to execute the business lending process quickly, efficiently, and profitably.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aba-endorses-digital-lending-solution-by-akouba-300405762.html
SOURCE American Bankers Association; Akouba