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The American Bankers Association Endorses Online Lending Software Provider Akouba

The endorsement is a huge boost for Akouba, a small business lending software provider for community and regional banks.

February 13, 2017 By Peter Renton Leave a Comment

Views: 14

We have said a number of times that 2017 is going to be the year of the Fintech/Bank partnership. This announcement today from the American Bankers Association (ABA) fits in very well with that premise.

The ABA announced that they have endorsed the digital lending solution provided by Akouba, a software provider that helps banks deliver small business loans in an efficient manner. This is a coup for Akouba, a startup with 11 employees (according to LinkedIn) that was founded in 2014.

Akouba first came on my radar about a year ago when they applied to PitchIt @ LendIt. They were chosen as one of the eight finalists and they presented to the judges and audience at LendIt USA 2016 this past April. They did not win and I have not heard much from them since that time but clearly they have been getting traction.

A More Efficient Way to Underwrite Small Business Loans

Akouba was conceived because most community banks do not have the capability to underwrite small business loans efficiently. They use old, paper-based methods that make it difficult to underwrite small dollar loans profitably, particularly the sub-$250,000 loans. Akouba provides the technology that converts this paper work flow into an online process from application all the way through funding. They are able to work with the banks underwriting model and incorporate it into this online process.

[Read more…]

Filed Under: Peer to Peer Lending Tagged With: ABA, Akouba, American Bankers Association, bank partnerships, small business lending

Views: 14

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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