Artis launches white-label lending solution for financial institutions to drive more business to SMBs
Artis Connect enables banks, credit unions to provide a branded, point-of-need consumer lending solution helping businesses drive sales and stimulate the economy
ATLANTA, GA (April 23, 2020) — Artis Technologies provides embedded financial services platforms for digital, point-of-need lending and payments. Today the company introduced Artis Connect, a cloud-based, white-label lending solution for banks and credit unions to reach more consumers with accessible financing through their own local small- and medium-sized business clients.
With Artis Connect, financial institutions can offer downstream credit through their existing merchant client base via a mobile-friendly platform. Merchants then become the “face of financing” to the consumer, offering loans originated by the financial institution at the point when the consumer is making a purchasing decision. This approach helps drive demand for the merchant; extends creative, well-structured financing to the consumer; and generates new revenue sources for the bank or credit union. Artis Connect is ideal for many consumer-facing industries with higher-cost products and services, including home improvement, HVAC, plumbing and landscape/hardscape, as well as elective medical, dental, manufacturing, auto repair and more.
While Paycheck Protection Program (PPP) loans and the Coronavirus Aid, Relief, and Economic Security (CARES) Act provide some immediate assistance, these short-term cash infusions have limits. Artis Connect was built with the belief that banks and credit unions can be even more effective for their communities longer term.
Barclay Keith, CEO of Artis Technologies, said, “We believe banks and credit unions can play a critical role in putting America back to work. Now more than ever, community financial institutions are showing their tremendous value to small and medium-sized businesses. As we look toward an economic recovery, offering point-of-need lending that matches lenders, merchants and consumers at the right moment in time can be a new tool for banks and credit unions to do what they do best – invest in their communities and spur economic growth for all.”
Artis Connect is all about connecting lenders, merchants and consumers when they need it most. Here’s how the modern embedded finance platform gets its done:
- Gives consumers access to unbiased financing offers at their moment of need. Transactions are controlled and protected within Artis Connect via closed-loop funding, ensuring only the merchant that finances the borrower receives payment.
- Supports SMBs with opportunities to increase sales and ticket sizes via instant, promotional financing. Artis Connect provides merchants with a digital portal to run their business and benefit from improved cash flow thanks to real-time funding from the consumer.
- Helps financial institutions drive demand and profitability to their SMB clients, while at the same time enhancing SMB product offerings, generating attractive returns from high-quality consumer loan assets, and creating cross-sell opportunities for other deposit and loan products.
Artis Connect is a low-cost lending solution that allows financial institutions to participate in point-of-need financing within weeks, generating new revenue streams while also enhancing the role of banks and credit unions in their communities.
About Artis Technologies
Artis Technologies powers modern lending solutions for businesses to provide affordable, low-friction financing to their customers at the point of need. Its API-based platforms creatively leverage alternative data sources and ML/AI-informed decisioning to present real-time loan offers fit to each individual borrower, all done within the banking industry’s current regulatory infrastructure. Visit heyartis.com for more information.