Small Business Loans Banking On New SaaS Technology from Akouba Credit

CHICAGO, Nov. 17, 2015 /PRNewswire/ -- Small businesses want to stay with the one they love—their trusted community bank. But these bank customers also crave ease, efficiency, and 24/7 access. Akouba Credit (www.akoubacredit.com) is helping banks better serve their valued small business customers with customized SaaS (software as a service) platforms. Akouba Credit is giving banks a new, competitive technological edge.

Today, Akouba Credit is pleased to announce its latest SaaS collaboration: with Metropolitan Capital Bank & Trust of Chicago. "Our partnership with Akouba affords us another way to enhance our service offering to existing customers and to expand further within the markets in which we operate," says Michael Rose, Metropolitan Capital Bank & Trust, CEO. "Akouba is a particularly accretive partner in helping us to continue to successfully identify and fund Community Reinvestment Act ("CRA") eligible loans quickly and with cost savings."

Akouba's platform helps lenders make small business loans more easily and efficiently in a way very few tech services can. Says Chris Rentner, Akouba Credit CEO, "We're excited to work with Metropolitan Capital Bank & Trust. Our platform makes it expedient for their CRA-eligible borrowers to obtain and track the progress of their loan."

The small business loan market (less than $250,000) is the second largest in the country. Tapping into this market helps small banks and community banks grow, while also strengthening relationships with current bank customers. In the past year, online small business loans have increased by more than 250%¹. Small business bank lending has decreased by 3%.²

"We work with banks so their loyal customers can stay where they feel comfortable, where they can enjoy a competitive interest rate, and also take advantage of modern benefits traditionally offered by online lenders," says Rentner. "Our platform makes it easier for banks to provide a frictionless experience for small loan applicants. And, in doing so, we're positioning banks to avail themselves of billions of dollars in small business loans."

ABOUT AKOUBA CREDIT: www.akoubacredit.com, is an innovator in cloud-based SaaS platforms for banks. Headquartered in Chicago, Ill, Akouba Credit provides lenders an algorithmic underwriting platform that reduces the cost and time required for banks to issue a small business loan. The platform, customized to each lender's underwriting principles, allows small businesses to apply and track their application electronically. Results delivered within 48 hours. 1-888-601-1772. [email protected]

ABOUT METROPOLITAN CAPITAL: Metropolitan Capital is the only boutique Universal Bank in North America exclusively focused upon startup-to-medium-sized businesses, and the founders or families that own or operate them. Metropolitan Capital provides private banking, wealth advisory, commercial banking and investment banking, all delivered through a single platform. It is comprised of a family of financial service companies that include Metropolitan Capital Bancorp, Inc. (Federal Reserve-regulated financial holding company), wholly owned Metropolitan Capital Bank & Trust (Member FDIC), Metropolitan Capital Investment Banc (FINRA-licensed broker dealer), and Metropolitan Capital Solutions (Federal Reserve governed corporate advisory).

For further information or press inquiries about Akouba Credit, contact Orly Telisman Public Relations, [email protected] or 312-375-1230.

¹ https://foundationcapital.com/downloads/FoundationCap_MarketplaceLendingWhitepaper.pdf

² Mills, Karen. "Online Banks Fill Funding Needs for Small Business." Harvard Business School Working Knowledge. Harvard Business School, Sept.-Oct. 2014.

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SOURCE Akouba Credit

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