Paperless onboarding

Upswot changes the way SMBs apply for various products, making the application processes highly interactive and engaging
Make all credit, working capital, deposit, leasing, line of credit, banking guarantee, etc. application processes paperless and beneficial for SMB clients

How It Works

1. White-label service

Upswot runs either on Bank servers (on-prem) or on Upswot servers (SaaS available through a single RESTful API)


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• For the PoC and pilot stages, there is no need in integration and developers at all. We offer a cloud-based demo version on pre-installed dedicated servers

• The commercial version of Upswot can be integrated on Lender’s servers on Amazon, Azure, IBM, Oracle private cloud, or dedicated on-premise servers,

2. Application process

SMBs apply for any credit, deposit or any other product at the Financial Institution’s website, share the data from business apps they use, and give the consent (GDPR-compliant) to analyze it with one-time or ongoing access


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• On the website or mobile app of the Bank, SMBs type their credentials to their accounts and consent tracking and analysis of business data, metrics, and future events. Logins and passwords are never stored

• Upswot automatically maps, structures, and standardizes the data shared while continuously re-assessing  and tracking all negative and positive events

3.Onboarding of the SMB

Upswot motivates SMB to share the data with the Bank to influence the terms of the deal in real-time


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Upswot can be easily connected to any internal system of the Bank, including CRM, decision-making engine or/and Big Data systems through Upswot RESTful API

• Upswot can be used to provide various types of products, including banking guarantee, P&C insurance, credit line, factoring, leasing, and even deposit products

4. Automated data structuring

Upswot automatically structures all the data in up to only 60 seconds, saving days and even weeks of work for financial analysts, and dozens of millions of dollars for Lenders


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Based on SMB data, Upswot provides Financial institutions with a unified dashboard which reflects all the information from Credit Bureaus, public and governmental registries in a single screen

• The dashboard consists of customized widgets which can be easily adjusted according to the rules and needs of the Bank.  All underlying data may be synchronized and downloaded to other internal systems of the Bank in various formats

5. "Red flags" tracking module

Upswot provides automatic notifications and updates regarding all positive or negative financial events that affect your clients


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 Continuous monitoring. Upswot provides the ongoing real-time re-assessment of financial status, issues, and needs of SMBs whith automated notifications to the employees of the Bank and/or automated sales offers to the right SMB at the right time

Advantages

Paperless Onboarding

SMB can apply for any product by sharing the data from apps they use in several clicks online, helping the Banks to get a full and accurate overview of their businesses

"Thin file" Problem

Increase the acceptance rate by up to 25% by enriching decision-making process with non-traditional data from various apps which are usually unavailable to Banks

API-based Service

Upswot doesn’t screenscrape the data. Our technology is based on native API of external apps only so that SMBs could share the data in a safe, secured, and reliable way

Risk re-assessment

Upswot continuously tracks SMBs even after the product is approved and triggers the Banks about all negative and positive events that can influence the risk, churn and even fraud 

Reporting

Upswot saves a lot of time for SMB by automating reporting with the data pulled directly from Accountancy, ERP, eWallets, eCommerce, CRM apps they use

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