Name: Numerated
Author: Numerated

Help Desk

Web and Video Conferencing

Customer Support

Accessibility Testing

Automation Testing

Version Control

Development

Virtual Classroom

Education

AI Document Creation

Business Intelligence (BI)

Calendar

Collaboration

IP PBX

Knowledge Management

Enterprise

Accounting

Budgeting and Forecasting

Financial Planning and Analysis (FP&A)

Financial Research

Financial Risk Management

Trust Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

HR Management

Job Board

Payroll

Talent Intelligence

Talent Management

Time Tracking

Workforce Analytics

Workforce Management

Human Resources

.Net Development

Cloud Storage

Container Security

Deception Technology

Embedded Database

Event Monitoring

Fraud Detection

IT Professional Services

IT Service Providers

Integration Platform as a Service (iPaaS)

Load Testing

Machine Identity Management

Network Diagnostics

Network Performance Monitoring

Office Migration and Repair

Rack Servers

Runtime Application Self-Protection

Service Desk Outsourcing

Telecom Expense Management (TEM)

User Activity Monitoring

Value Stream Management

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Community

Content Management

Digital Experience Intelligence

Email Marketing

Influencer Marketing

Market Research

Marketing Automation

Mobile Analytics

Social Media Management

Survey & Forms Building

Usability Testing

Web Analytics

Wholesale Marketplace

Marketing

Project Management

Professional Services

AI Sales Agent

Customer Relationship Management (CRM)

Sales

Application Security

Cloud Security Posture Management

Identity Threat Detection & Response Software

Security

Estate Planning

Geographic Information

Tour Operator

Vertical-Specific

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Numerated's lending platform has proven to be a valuable tool for small businesses, as users have reported significant time and efficiency savings. According to customers, the platform has allowed them to process small business loans efficiently, saving them hundreds of hours of work. It has also been praised for its adaptability to specific loan requirements, such as processing PPP requests and tracking necessary information for the forgiveness process. 

One noteworthy aspect that reviewers mention is how Numerated helps bridge the digital divide by providing a scalable solution that allows for automation while still offering banker-led applications. This has been a game-changer in PPP lending and conventional lending, as Numerated's product offering has steadily improved since 2018. In fact, users have experienced a reduction in the time it takes to book a PPP loan thanks to Numerated, with the average manhour time going from around 10 hours to about 1.5 hours for the entire process.

The platform has proven useful not only for PPP loans but also for originating small business loans quickly and at a reasonable cost compared to traditional commercial models. Numerated enables users to provide lending solutions rapidly to clients while minimizing the expense of processing requests from application to post-closing. This combination of speed, efficiency, and cost-effectiveness has made Numerated an excellent choice for businesses seeking efficient loan processing and origination solutions.

Overall, Numerated's lending platform has received positive feedback from users who appreciate its ability to streamline loan processes and reduce manual effort. Its adaptability and scalability have made it a go-to solution for both PPP lending and conventional lending needs.

Short Application Window: Some users have mentioned that there is a short window of time to complete the loan application, which has caused frustration as it can result in an error if not completed within that timeframe.

Limited Control Over Data and Renewal Workflow: Users expressed a desire for more control over their data and a renewal workflow. They feel that having more flexibility in managing their information and the ability to easily renew loans would greatly enhance their experience with the platform.

Inability to Make Changes to Credit Parameters: Several users have mentioned that they would like the option to make changes to certain credit parameters. This lack of customization restricts their ability to tailor the loan terms according to their specific needs or preferences.

Responsive and Supportive Team: Users have expressed their satisfaction with the responsiveness and personable nature of Numerated's team, even during times of high pressure. They appreciate that the team actively solves problems and makes improvements on a daily basis.

Real-time Decision-making: Several reviewers have praised Numerated for its real-time decision-making feature, which provides a significant competitive advantage. The ability to process loan applications and documents in just 5 minutes has impressed users and streamlined their lending processes.

Speed and Efficiency: Many users have commended Numerated for its speed and efficiency. They are particularly impressed with the platform's ability to make loan decisions in less than a minute and complete the booking process within days, significantly improving upon traditional methods.

Numerated is a digital loan origination system designed specifically for business banking. According to the vendor, it aims to simplify and enhance the lending and account opening processes for banks and credit unions. The product targets financial institutions, banking establishments, credit unions, and commercial lending entities.

## Key Features

**Digital Loan Origination for Business Banking**: The vendor claims that Numerated offers pre-filled applications, digital document collection, flexible underwriting options, and frictionless closings to simplify and expedite the loan origination process for business banking.

**Pre-Filled Digital Applications**: Numerated provides a seamless and consistent application experience across all credit and deposit products in business banking, supporting both self-service and banker-led customer journeys. The vendor states that it benefits from data integrations to pre-populate applications and reduce applicant work.

**Flexible Digital Underwriting**: According to the vendor, Numerated allows instant aggregation and flagging of data to enrich and score applications. It also automatically spreads financials and tax returns and allows configurable credit decisioning logic. The product aims to streamline review workflows and recommendation offers with editable terms.

**Streamlined Digital Closings**: Numerated claims to generate execution-ready closing packages, enable digital signing via DocuSign, and track document package progress. The vendor states that it also offers data export to the core system to reduce errors and eliminate rekeying.

**Secured Lending Automation**: Numerated aims to reduce processing time and effort for loans and lines of credit secured by specific collateral, improving lending efficiency and customer experience. The vendor suggests that it is ideal for working capital lines of credit and equipment & vehicle term loans.

**Digital Account Opening for Businesses**: The vendor claims that Numerated enables businesses to open deposit accounts simultaneously while applying for a loan. It addresses complexities like beneficial ownership and signing authorities, saves time on account opening reviews, and offers seamless funding from external accounts.

**Easy SBA 7(a) Lending**: Numerated aims to automate the entire process of applying for an SBA 7(a) loan, reducing application and underwriting time by 75%. According to the vendor, it eliminates manual processes and paperwork, provides a self-service borrower platform, and generates all required SBA forms.

**Digital Underwriting**: Numerated claims to accelerate underwriting time by up to 90% through OCR and AI-powered analysis of financial statements. It aims to calculate pro-forma ratios instantly and automate document collection and routine calculations for a seamless borrower experience.

Numerated is a fintech used by banks and credit unions as a digital lending platform. The platform can streamline the origination of any business banking product, from application to decision to close. The vendor states more than 400,000 businesses and 30,000 financial institution associates have used Numerated to process $50 billion in lending.

Kabbage from American Express offers a data and technology platform to provide small businesses automated cash flow solutions, including business checking accounts, online payments, business insights and flexible lines of credit up to $250,000. Kabbage uses real-time data and automation to provide an integrated suite of financial tools empowering small businesses to spend less time on their books and more time on building thriving businesses.

Kabbage by American Express

Plaid in San Francisco offers a suite of applications supporting banks with risk management and customer account management features. Plaid is used by digital financial apps and services like Betterment, Expensify, Microsoft and Venmo, and by banks to make it easier for consumers to connect their financial accounts with the apps and services they want to use. Plaid connects with over 11,000 financial institutions across the U.S, Canada and Europe.

Test

Launch

Scale

Plaid

Numerated

Loan Servicing Software automates the loan lifecycle from origination, credit decisioning, payment processing and collections, to accounting and reporting.

Loan Servicing

Numerated Demo

Loan Workflow

Tools used by loan origination and servicing and servicing agents to streamline their workflows.

Loan Document Management

This feature allows users to store, manage, and track all loan-related documents, ensuring compliance and efficient processing.

Loan Workflow Automation

This feature helps to automate various stages of the loan process, improving efficiency and reducing manual errors.

Loan Software Integrations

This feature allows lenders to access credit reports and scores from major credit bureaus, aiding in the credit assessment process, and integrate with CRM tools and third-party databases to manage borrower relationships.

Loan Reporting and Analytics

Allows users to generate various reports and analyze data related to loan origination and servicing, helping to make informed decisions.

Financial Reporting and Compliance

Financial statements and regulatory filings

Management Reporting

Tools facilitating creation of internal ad hoc or standard reports.

XBRL support for regulatory filing

Support for the XBRL standard reporting format for exchanging financial data.

Excel-based Reporting

Ad hoc or formatted reports using MS Excel.

Data Security

Tools and features that help keep data secure from unauthorized access or internal exposure.

At-Rest Data Encryption

Data at rest is encrypted, requiring decryption to read the underlying data.

In-Transit Data Encryption

Data is transmitted in an encrypted state, preventing interception of raw in-flight data.

In-Use Data Encryption

Data remains encrypted even when stored in non-persistent storage (RAM, CPU caches, and CPU registers). This prevents access to data through malware on an individual device.

Data Redaction

The product's capability to return redacted data in place of actual data when queried. For instance, a redacted query for the phone number 555-5555 could return ***-**55.

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Numerated

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What is Numerated?