Latest news with #WillTumulty
Business Wire
6 days ago
- Business
- Business Wire
Rapid Finance Releases Breakthrough AI Tool to Slash Loan Application Processing Times
BETHESDA, Md.--(BUSINESS WIRE)-- Rapid Finance, a leader in small business financing and enterprise lending solutions, today announced the launch of SPADE (Smart Processing and Data Extraction), a powerful AI-driven module integrated into its flagship data automation platform, Lynx. Designed to automate and accelerate loan processing, SPADE cuts document processing time by over 95%, enabling financial institutions to serve small business clients with speed and precision. SPADE cuts document processing time by over 95%, enabling financial institutions to serve small business clients with speed and precision. Share SPADE leverages advanced machine learning to extract key data from complex, inconsistent and handwritten loan applications submitted in PDF format. Manual processing is often labor-intensive, taking almost 20 minutes or more per application. With SPADE, this process takes as little as 20 seconds, delivering faster service to lenders and their small business customers. 'Small businesses are the heartbeat of our economy, and they deserve a lending process that moves at the speed of their ambition,' said Will Tumulty, CEO of Rapid Finance. 'With SPADE and Lynx working together, we're giving our partners the tools to process applications faster, more accurately, and with less overhead, ultimately transforming how they serve their business banking customers.' In addition to fast data extraction, SPADE offers smart features like automatic document classification, with upcoming capabilities such as company social media sentiment analysis. Fully configurable and extensible, SPADE enhances the already robust Lynx platform by turning unstructured documents into decision-ready data in real time. SPADE consistently matched or exceeded human-level accuracy during internal testing, processing most documents in 15–20 seconds. This performance empowers lenders to significantly scale operations without compromising precision or compliance. As a native module within Lynx, Rapid Finance's end-to-end data automation platform, SPADE seamlessly plugs into existing workflows. Lynx enables institutions to ingest, validate, enrich and review applicant data in real time, making smarter, faster decisions. About Rapid Finance Since 2005, Rapid Finance has been helping small businesses thrive by providing fast, flexible, and technology-driven financing solutions. Through its scalable Lending-as-a-Service platforms, Rapid Finance empowers both small businesses and enterprise partners. Learn more at
Yahoo
11-06-2025
- Business
- Yahoo
William Mills Agency Releases Latest Bankers as Buyers Research Highlight & Expert Panel Report
Expert commentary explores bank and credit union appetite for small business banking ATLANTA, June 11, 2025--(BUSINESS WIRE)--William Mills Agency, the nation's leading fintech public relations and marketing firm, has published a new issue of its Bankers as Buyers™ Research Highlight & Expert Panel focused on bank and credit union's expansion plans regarding small businesses. This research highlight draws from the Jack Henry's 2025 Strategy Benchmark, which features responses from 149 bank and credit union CEOs and CFOs across the U.S. The panel address the question, "Over the next two years, will you expand services for small businesses?" The agency invited five thought leaders to weigh in on the implications of the survey's findings. Erica Pilon, Head of Strategy at Jack Henry, Will Tumulty, CEO at Rapid Finance, Jimmy Sawyers, Chairman at Sawyers & Jacobs, Jessica Pinkston, Senior Director at Cornerstone Advisors, and Lukas Haffer, Co-founder and CEO at Casca, provide insight into how financial institutions can better serve small business clients. Scott Mills, president of William Mills Agency, said, "In March, we launched our first Research Highlight and Expert Panel with the goal of taking a deep dive into the industry's most pressing issues. Small business clients are an attractive segment for financial institutions, however, their needs are complex and nuanced. Our panel provided timely, relevant comments on the biggest challenges and most promising technologies for institutions exploring commercial banking." The series condenses relevant research into a concise, insightful summary augmented by expert commentary from recognized leaders in the industry. Download the free Bankers as Buyers Research Highlight & Expert Panel here and share your comments. About William Mills Agency William Mills Agency is North America's leading fintech public relations and marketing firm. The agency has established its reputation through the successful execution of media relations, marketing services and crisis communications programs. The company serves clients ranging in size from small start-ups to large, publicly traded companies. For more information, please visit View source version on Contacts Media Contact: Kendall Carwilekendall@ 678-781-7224 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
11-03-2025
- Business
- Associated Press
Rapid Finance Helps Community Financial Institutions Scale SMB Lending and Boost Non-Interest Income With Its Integrated LOS and Funding Network
At ICBA LIVE, has announced a significant enhancement to its Decisioneer loan origination software – seamless, one-button integration with the trusted Rapid Finance Funding Network. This powerful enhancement now unlocks new non-interest income streams for community banks when effortlessly referring loan applications that fall outside their lending criteria. With increasing competition from larger banks, community financial institutions need ways to streamline their SMB lending and retain their small business customers. Rapid Finance's LOS not only improves loan origination and underwriting, but now also gives FIs one-click access to an extensive funding network to expand non-interest income opportunities for loan applications that fall outside of their existing loan requirements. Rapid Finance's Funding Network is a vast network of trusted lenders who are skilled at client service and small business growth. Now, with a single click in Decisioneer, community can refer loan applications to this network. When funded, the bank earns non-interest income, transforming declines into revenue opportunities while empowering their small business customers. With 20 years of experience in small business lending, Rapid Finance is a trusted partner for financial institutions looking to scale their lending programs. By combining its LOS, Decisioneer, and the Funding Network, FIs can: - Compete more effectively – Offer SMB borrowers a streamlined, digital lending experience and opportunities when compared to competition. - Automate and accelerate SMB lending – Simplify application intake, streamline decisioning and approvals with integrated fraud prevention, KYC, KYB and credit scoring. - Enhance borrower experience – A fully digital, white-labeled solution that simplifies document collection, verification and storage loan processing. - Reduce costs and improve efficiency – Automate workflows, minimize manual processes and instead strengthen relationships with your business customers by adapting to their evolving needs - Expand revenue opportunities – Seamlessly refer applicants outside their credit criteria to the funding network with one click and boost their non-interest income. 'With Decisioneer and the integrated Rapid Finance Funding Network, we are empowering community financial institutions to bring capital to small businesses more efficiently while unlocking new revenue opportunities,' said Will Tumulty, CEO of Rapid Finance. 'For 20 years, we've been committed to helping businesses access the capital they need and this solution further strengthens that mission, giving community financial institutions the tools to better compete with larger lenders while serving their business customers more effectively. With Rapid Finance's LOS and Funding Network, FIs can scale SMB lending, drive revenue and better serve their business customers – ensuring they stay competitive in today's evolving financial landscape.' ICBA LIVE attendees can stop by the Rapid Finance booth to learn more about the Funding Network and Decisioneer. About Rapid Finance Since 2005, Rapid Finance has been supporting the growth and success of small businesses across the U.S. Powered by a thoughtful combination of technology, speed and deep industry expertise, Rapid Finance provides modular, flexible and scalable financing solutions to small businesses, as well as Lending-as-a-Service solutions customized to meet enterprise clients' needs. Learn more at CONTACT: MEDIA CONTACT: Augusta Bauknight For Rapid Finance 678-781-7214 [email protected] Arango For Rapid Finance 678-781-7233 SOURCE: Rapid Finance Copyright Business Wire 2025. PUB: 03/11/2025 07:01 AM/DISC: 03/11/2025 07:01 AM
Yahoo
28-01-2025
- Business
- Yahoo
Rapid Finance Releases New White Paper Highlighting Untapped Opportunities in SMB Lending Through Enhanced Data Utilization
BETHESDA, Md., January 28, 2025--(BUSINESS WIRE)--Rapid Finance, a leader in small business financing and enterprise lending solutions, released the white paper, "The Missed Opportunity in Modern Commercial Lending: Unlocking the Untapped Power of Customer Data," that explores how underutilized data leads to lending inefficiencies, lost revenue opportunities and increased risk for financial institutions. As detailed in the report, adopting a proactive data-driven strategy enables lenders to strengthen their portfolios and deliver tailored experiences that meet evolving customer expectations. Data is a critical asset that lenders must fully leverage to maintain a competitive advantage in today's lending landscape, yet many financial institutions only leverage it for immediate transactional purposes such as processing, approving loans and addressing service requests. This reactive approach results in institutions missing significant opportunities for strategic growth, deeper customer insights and enhanced operational efficiency. Additionally, the white paper provides real-world examples of data-driven lending success from reducing non-performing loans (NPLs) to improving customer retention and generating revenue through personalized offerings. The white paper also outlines key steps lenders can take to improve data utilization including breaking down data silos, investing in AI and analytics infrastructure, embracing proactive data strategies, fostering data-driven culture and starting small but scaling strategically. Financial institutions that fully embrace and adopt data-driven strategies will excel in a hypercompetitive market. By transitioning to a proactive data strategy, institutions can unlock new revenue streams, enhance their operational efficiency and strengthen customer relationships. "Lending strategies must be able to address customer expectations that are continuously evolving," said Will Tumulty, CEO of Rapid Finance. "By leveraging customer data to its fullest potential, lenders can unlock significant opportunities for growth and efficiency. Our latest white paper provides a clear blueprint for institutions seeking to create a more personalized, value-driven lending experience for their small business customers." About Rapid Finance Since 2005, Rapid Finance has been supporting the growth and success of small businesses across the U.S. Powered by a thoughtful combination of technology, speed and deep industry expertise, Rapid Finance provides modular, flexible and scalable financing solutions to small businesses, as well as Lending-as-a-Service solutions customized to meet enterprise clients' needs. Learn more at View source version on Contacts MEDIA CONTACT: Augusta Bauknight For Rapid Finance678-781-7214augusta@ Alex Arango For Rapid Finance912-429-9942alex@ Sign in to access your portfolio
