Boston-based fintech Numerated launched an expansion of its digital business banking services platform yesterday, with People’s United Bank as a launch customer.

This expansion provides banks with pre-filled digital applications across business banking products and a range of digital lending and account opening options.

In addition to small business term loans, lines of credit and SBA loans, banks using Numerated can now create digital buying experiences for deposit accounts, commercial real estate, overdraft protection, credit cards, working capital lines, equipment loans and renewals.

Businesses have been demanding an easier way to purchase financial products from banks,” Dan O’Malley, CEO of Numerated, said in a statement. “Our unique data capabilities allow banks to create the fastest, simplest, and most efficient digital lending and account opening experiences in the market. Top business banks have asked us to be a digital front end for all their business banking products, and we’re partnering with them to make this vision a reality.”

Banks that use Numerated’s technology include Eastern Bank and Bridgeport, Connecticut-based People’s United.

“The future of banking is all about providing our customers with a unique value proposition through personalization, speed, and the integration of technology, enhanced by our expert bankers,” Ravi Vakacherla, People’s United Bank’s executive vice president and head of banking operations and product management, said in a statement. “The platform provided by Numerated is the next step in that journey. With more than 400,000 small businesses across the Northeast, we are excited about this platform’s ability, coupled with our focus on relationships and digital solutions, to help business owners build their businesses.”

More than half of Numerated’s customers have added products from the platform’s expanded suite of business banking products, which supports both self-service and banker-led origination.

“Numerated will allow us to decision a business loan and open a checking account in minutes, in the same customer session, without having to request duplicative information. This will dramatically reduce the friction involved in onboarding and welcoming new business customers to our bank,” Christy Schmitt, senior vice president and managing director of business banking at Home Bank of California, said in a statement.

Numerated Launches Expanded Digital Business Banking Platform

by Banker & Tradesman time to read: 1 min
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