IBC Bank announced a strategic partnership with Finanta, a pioneer in financial technology solutions, aimed at revolutionizing its commercial loan originations, collateral management, portfolio management and all lines of business in commercial lending operations. This collaboration marks a significant step in IBC’s ongoing commitment to enhance its digital banking services and deliver cutting-edge solutions to its customers.

By integrating Finanta's advanced commercial lending platform, IBC Bank will accelerate its digital transformation in commercial lending and unleash incremental business value.

In line with its mission to transform the commercial lending landscape, Finanta will equip IBC Bank with tools that streamline complex commercial lending processes. These tools and accelerators address key industry challenges such as loan origination, risk assessment and regulatory compliance, providing a seamless, automated and customer-focused commercial lending experience that will benefit employees as well.

"Our partnership with IBC Bank underscores our commitment to advancing commercial lending through our innovative lending suite," said Sai Chandrasekar, Finanta’s Chief Product Officer. "By leveraging Finanta’s comprehensive commercial lending solutions suite, IBC Bank will not only enhance their operational efficiencies but also provide their clients with superior lending products and services tailored to the dynamic commercial lending sector."

IBC Bank’s EVP of Operations, Dalia Martinez, said, “We’re focused on transforming our commercial lending operations to better serve our clients. Finanta is helping us achieve this transformation. Finanta’s automation and financial analysis tools will enable us to make faster, smarter decisions, which should result in better experiences for both our team and our clients.”

Transformative Capabilities Introduced to IBC Bank’s Commercial Lending Operations Through Finanta Partnership

As part of its strategic initiative to enhance commercial lending services, Finanta has introduced a suite of advanced technologies at IBC Bank, each designed to optimize different facets of the lending process:

• Automated Commercial Loan Origination: The new system streamlines the borrower application process, significantly reducing decision times and improving accuracy through automated workflows such as lien filing and management, flood determination, evaluation/appraisal processes. This enhancement is expected to accelerate the lending cycle, allowing IBC Bank to respond to client needs with greater agility.

• Collateral Management: Finanta unleashes the true collateral value across the lending lifecycle by effectively managing lending risks, optimizing collateral utilization, and ensuring compliance with regulatory requirements.

• Enhanced Risk Management: By integrating exception tracking and advanced analytics into the risk assessment process, the updated system provides IBC Bank with the tools to perform real-time evaluations of borrower risk and regulatory compliance, supporting more informed and data-driven decision-making to improve the credit quality.

• Digital Credit Analysis and Presentation Tools: The adoption of sophisticated algorithms for generating digital credit reports and presentations will bring a new level of transparency and insight into IBC Bank's commercial lending decisions, aligning with modern expectations for data accessibility and financial clarity.

• Construction Loan Management: Finanta’s construction loan management suite streamlines the lending process for the commercial and residential projects, reducing the spreadsheets and manual intervention of loan officers and borrowers. This improvement enhances the bottom-line by increasing the income and increasing operational efficiencies.

• Robust Portfolio Management: With dynamic new tools for managing commercial loan portfolios, IBC Bank can now more effectively monitor loan performance, identify and mitigate risks, and enhance overall returns on investments.

• Innovative Services: This collaboration will introduce new and innovative services, including AI-driven financial advice and predictive analytics, aimed at providing customers with tailored recommendations and insights.

These technological enhancements by Finanta are part of a broader effort to support IBC Bank in its commitment to delivering state-of-the-art financial services and fostering growth within the commercial sector.