FifthThird Modernizes Digital Loan Originations with Fundation
FEB 24, 2020 - 6:32 am
Fundation has collaborated with Fifth Third Bank to modernize Fifth Third Bank’s loan origination capabilities for small business loans and lines of credit.
The new capability enables small businesses to apply for loans and lines of credit through a simple, digital application. The solution will initially be available through Fifth Third banking centers in select markets and ultimately be deployed at 53.com. In most cases, approvals will be provided within minutes and funding available to customers within a couple of business days through a completely digital process.
Additionally, Fundation will offer Fundation branded products to customers that do not meet Fifth Third’s eligibility guidelines, helping the bank to serve more of its small business customers’ credit needs.
“At Fundation, our mission is to enable our banking clients to give their small business customers the best of both worlds – great products at great prices along with the modernized experience they expect in the digital era,” said Sam Graziano, CEO of Fundation. “This collaboration does exactly that. The combination of Fifth Third Bank’s renowned brand, customer reach and great products with our digital lending platform will allow us to collectively serve the bank’s customers with best-in-class products and a best-in-class customer experience.”
With this latest solution, and in addition to those already deployed with Regions Bank, Citizens Bank and Bank of the West, Fundation now collaborates with 4 of the top 20 commercial banks in the U.S. in their small business lending programs.
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