Banks and lenders may have been historically resistant to adapt technology, but they’re catching up at the community banking level in droves. The shift of consumer and business expectations around tech continues to rise alongside innovation and increased product diversity.
Commercial lending may have an abundance of players on the field, but they are typically smaller compared to their consumer-oriented counterparts. There are more consumers than there are businesses, leading to higher levels of tech adoption and investment.
Michael Barnett, Founder and CEO at Loanspark, is on the front lines of providing high-touch service while bringing efficiency to company processes and introducing streamlined systems in the commercial lending space.
Innovation for innovation’s sake can cause more problems than it solves. There must be a consideration for the end goal, and Barnett is dedicated to positive progress based on real needs.
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