Business lending has become a primary focus for financial services leaders as they work with businesses and state and Federal governments to address financial needs for small businesses impacted by the COVID-19 pandemic. BAI, a nonprofit independent organization that delivers the financial services industry’s most actionable insights, has launched its Business Lending Pulse benchmarking program to help financial services leaders benchmark their small business lending performance so they have the clarity and confidence they need to make smart, strategic decisions for their organizations and the businesses they serve.
The BAI Business Lending Pulse program is a powerful tool that enables financial services leaders to take a precise look at their loan portfolio performance over time, relative to their peers. The program includes metrics on balance growth, new and existing loan commitment, and new account origination. By understanding performance relative to their peers, financial services leaders can leverage this information to formulate and adjust strategies that meet the needs of their customers and drive their business forward.
“The demand for the Paycheck Protection Program and other programs focused on assisting small businesses with their capital needs during the pandemic has enabled financial services leaders to increase focus on serving this important customer group,” said Karl Dahlgren, managing director at BAI. “The BAI Business Lending Pulse program provides the data and tools financial service leaders need to evaluate the effectiveness and productivity of their current lending programs. Helping small businesses thrive is critical for our economy and banks are committed to supporting them through these unprecedented times. BAI is equally committed to supporting banks as they do this.”
BAI Business Lending Pulse is part of BAI’s data and analytics program, which provides benchmarking research for areas ranging from consumer and business deposits, digital banking, marketing, talent management, culture and conduct and other strategic areas for US banks. The trusted, unbiased information BAI’s team of industry experts provides is deep, broad, and flexible, enabling financial services leaders to segment the information according to their unique structure and strategic needs.