FIS & Lendio launch ‘SMB Digital Lending’ to boost small business loan processes

By Gloria Mathias

FIS, a global financial technology company, has announced the launch of its new SMB Digital Lending solution in partnership with Lendio, the small business financial solutions technology platform.

The solution aims to reduce the barriers to funding for small and medium-sized businesses (SMBs) by streamlining and automating lending processes for financial institutions.

“FIS’ SMB Digital Lending solution is a game-changer for financial institutions and small businesses alike,” said Steve Sabin, SVP, Division Executive, FIS Lending. “By partnering with Lendio, we are leveraging our unmatched scale and reach in the banking industry, plus Lendio’s advanced small business underwriting technology and empowering financial institutions to serve their small business customers profitably. The expansion of our digital banking capabilities illustrates FIS’ commitment to serving the entire money lifecycle—whether at rest, in motion, or at work—and I look forward to seeing the positive impact the solution brings.”

As a cloud-native and API-driven SaaS solution, SMB Digital Lending provides fully automated decisioning and loan boarding by focusing on smaller borrowers. Combining large-scale data science and machine learning with market-leading loan underwriting expertise helps banks profitably source, underwrite, and fund SMB loans of any size, ultimately seeking to make them more affordable for the borrower.

SMB Digital Lending is also built to complement any financial institution’s current technology stack, including loan servicing solutions from FIS and other providers. It seeks to make it easy to adopt and provide an industry-leading digital customer experience for small businesses.

“We are thrilled to partner with FIS, a global leader in financial technology, to help bring this SMB lending platform to banks across the country,” said Brock Blake, CEO and co-founder of Lendio. “Our mission at Lendio is to fuel the dreams of small business owners by simplifying small business lending. FIS’ SMB Digital Lending solution is a perfect fit for that mission, as it enables banks to offer a fast, easy, and transparent loan process to their small business clients. Together with FIS, we are creating a win-win situation for banks and small businesses, and we look forward to expanding our reach and impact through this partnership.”