Digital-First Banking Tracker® – March 2021

Automation And Tight KYC Process Improve SMBs' Loan Access

Digital-First Banking Tracker® – March 2021

Loans have served as lifelines for SMBs during the pandemic, but trying to get one often comes with clunky onboarding processes. In the Digital-First Banking Tracker, Sam Sidhu, vice chairman and chief operating officer at Customers Bank, explains how banks are leveraging automation and better KYC to underwrite and approve SMBs in need.

Inside the March Tracker

  • An interview with Sam Sidhu, vice chairman and chief operating officer for Customers Bank, on how the FI improved its back-end systems to work through SMBs’ Paycheck Protection Program loan challenges
  • The latest digital-first banking developments, including how millennials and Generation Z consumers prefer banking models that mix in-person and digital features and how 76 percent of Americans have used their banks’ mobile apps within the past year
  • A Deep Dive analyzing the digital-first lessons that FIs have learned during the pandemic and why many of their digital shifts are likely to outlast the health crisis

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