Ned Launches Spotlight: Real-Time Cash Flow for SMB Lenders

In the fast-paced and often volatile landscape of small business lending, access to timely and accurate financial data is critical for making informed decisions. Ned, a leading infrastructure platform for modern small business lending, has just announced the launch of “Spotlight,” its first modular solution designed to revolutionize how lenders assess borrower health.

Spotlight provides instant visibility into a borrower’s real-time cash flow performance, addressing a crucial market need where legacy systems often cause delays and lack the dynamic insights required in today’s economic climate. This innovative tool is poised to enable lenders to make quicker, smarter decisions, ultimately strengthening both their pipeline and portfolio oversight.

• Addressing the Need for Speed and Simplicity in Lending
  • The Challenge of Legacy Systems: Many lenders still rely on outdated systems that hinder real-time visibility.
  • Impact on Credit Decisions: Lack of real-time data slows down the credit decision-making process.
  • Ned’s Solution: Spotlight offers a lighter, faster, and easier approach.
  • CEO’s Vision: Dave Silverstein, CEO of Ned, emphasizes Spotlight’s design for critical moments where truth and speed are paramount.
• Why Real-Time Cash Flow Matters in a Volatile Economy
  • Economic Pressures: Inflation and tighter margins are squeezing small business borrowers.
  • Risk of Delayed Insight: Procrastinated financial insights create significant risks for lenders.
  • Spotlight’s Advantage: Provides instant access to live cash flow data.
  • Key Decision Points: Enables faster, smarter decisions during:
    • Pre-qualification.
    • Mid-loan check-ins.
    • Risk reviews.
  • No Manual Work or Delays: Mayur Motgi, Ned’s Chief Product Officer, highlights the automated and instantaneous nature of data access.
• How Spotlight Empowers Lending Teams
  • Efficient Data Pull: Lenders can pull and assess real-time bank data from multiple accounts in seconds.
  • Core Benefits for Teams:
    • Quick Borrower Pre-qualification: Screen borrowers efficiently before a full application, saving time and focusing on qualified leads.
    • Preventing Failed ACHs: Verify liquidity in real-time before repayments, reducing the risk of failed transactions.
    • Early Risk Detection: Monitor borrower health proactively and act before issues escalate.
• Spotlight’s Key Features
  • User-Friendly Design:
    • No-Code Setup: Fast to deploy for lenders.
    • Borrower-Friendly UX: Simple and intuitive for borrowers to use.
  • Customization and Control:
    • Custom Eligibility Score: Lenders can set unique cash flow criteria.
    • Credit Policy Alignment: Fully aligns with a lender’s existing credit policy.
  • Instant Verification:
    • Real-Time Bank Data: Pulls data in seconds.
    • No Manual Uploads: Eliminates the need for PDFs or manual uploads.
  • Comprehensive Financial Snapshot:
    • Multi-Account Access: Analyze multiple bank accounts per borrower for a complete financial view.
  • Flexibility and Versatility:
    • Lightweight and Flexible: Can be deployed across various stages of the lending lifecycle.
    • Application Areas: Suitable for pre-qualification, underwriting, renewals, or post-close reviews.
• Strengthening Portfolio Oversight and Reducing Complexity
  • Applying Custom Criteria: Spotlight allows lenders to apply their own credit criteria for quick qualification or flagging distress signals.
  • Benefits in a Challenging Economy:
    • Targeted visibility strengthens pipeline.
    • Improves portfolio oversight.
    • Reduces operational cost and complexity.
  • Collaborative Development: Silverstein expresses gratitude to lenders who helped shape the product.

Ned’s launch of Spotlight marks a significant advancement in the FinTech space for small business lending. By offering instant, real-time visibility into borrower cash flow, Spotlight directly addresses the critical need for speed, simplicity, and accuracy in credit decisions.

Its modular design, combined with features like custom eligibility scoring and multi-account access, empowers lenders to pre-qualify borrowers efficiently, prevent failed payments, and detect risks early. In an increasingly challenging economic environment, Spotlight provides the crucial insights needed to strengthen lending pipelines and portfolios, ultimately reducing costs and complexities. This innovative solution is poised to become an indispensable tool for modern lenders, solidifying Ned’s position at the forefront of FinTech infrastructure for small businesses.

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