Financial institutions are embracing technology to offer better products and services and attract more customers. As with any industry, companies with fewer moving parts tend to be more agile and lean than traditional financial institutions. This allows them to adapt quickly to changes in the market and emerging customer needs.
At LQD Business Finance, we pride ourselves on being big enough to compete with the best and can dynamically change to the market and our client’s needs. We have also made three big moves that helped shake up the finance industry.
Using New and Emerging Financial Technology
In the U.S., the adoption of API in the finance industry has been low. Currently, only 23% of traditional banks and 53% of credit unions use APIs in the U.S. Compare this to a mind-blowing high of 97% across the board for European banks.
Since inception, our LQD Business Finance team has been incredibly proud of using emerging automation to build our own revolutionary lending program that utilizes both API technology and artificial intelligence to best serve our customers’ needs. We’re able to automate complex data processes and reduce loan costs.
We are finance professionals, but we are also a FinTech firm seeking new ways to better serve our clients. Leveraging both passions has compelled us to create new and exciting offers that our clients are unlikely to find anywhere else.
Embracing Crypto-Backed Lending
We are in the process of creating the first commercial lending platform that treats Bitcoin as currency instead of just a digital asset. This will open up a more comprehensive range of opportunities for business owners who have invested heavily in Bitcoin through business and personal accounts. We intend to use the Prevenance Blockchain as a base for building out our loan package and documenting processes. Offering crypto-backed lending will shake up the finance industry in several ways:
- Diversified Portfolios: When commercial lenders treat Bitcoin as an asset or currency, they create the opportunity for more diversified investment portfolio holdings. Bitcoin also encourages our clients to continue to hold diversified assets that include cryptocurrency.
- Customer Satisfaction: Cryptocurrency investors have been waiting for Bitcoin and other currencies to make it into the mainstream market. We know they will appreciate the increased flexibility and widened opportunities for getting funding.
- International Application: When foreigners seek financing in the U.S., they often face challenges related to using assets abroad as collateral. Cryptocurrency breaks down international barriers because it operates the same in virtually any market. Demand and price are also decided on a global scale.
Offering a Channel Partner Program
We believe that the best way to grow any business is by building strong relationships and sharing those connections. We created an affiliate program with precisely that goal in mind. Whether you are a financial advisor or an established broker, we would love to work with you. You help lead more people to our business, and we’ll offer them accelerated lending.
As with all other aspects of our business, we rely on technology to document and track activity. We also provide these same tools to you to determine who followed through with reaching out to us and where we are with getting their loans funded.
Unlike referral programs for other banks, you don’t need to wait for months to earn your commission. The additional technologies we leverage allow us to fund loans much faster than traditional lenders. This, in turn, ensures that you get paid faster. Here are some selling points you can use to attract future clients:
- We offer up to $10 million in capital in less than a month.
- We provide customizable loans to meet specific business needs.
- We are customer-focused and always looking for ways to better serve our clients.
- We have mastered tech adaptation in the finance industry.
Continuing To Improve
At LQD Finance, our team is constantly on the lookout for new ways to improve our offerings. This includes looking for new tech and getting to better understand our clients and what they need. We truly believe that our success as a business depends on our ability to help your business succeed with hassle-free commercial funding. If you would like to become a partner, send us a message to get started. We look forward to working with you.