Don Shafer, Quilo Co-founder and Chief Evangelist, stopped by the Studio Lounge to share his company's award-winning (voted Best of Show at 2022 Finovate Fall), jaw-dropping, real-time loan syndicate network for credit unions and community banks.
Don explained how Quilo digitally syndicates an individual loan with other lenders, which is revolutionizing how lenders can increase their loans to more people with less risk. This platform empowers community financial institutions to offer personal loans, digitally onboard new borrowers, originate and service personal loans.
The platform also allows a loan originating institution to syndicate an individual unsecured loan across multiple participating financial institutions at a point of underwriting in seconds and without any human involvement, which significantly reduces credit risk, improves approval rates and allows them to underwrite larger loans for a longer term.
This solution is right in the credit union wheelhouse, collaborating and cooperating for the betterment of the member -- as well as credit unions of any size looking to enhance their loan portfolios.