Zions rolls out Mirador digital lending platform

Source: Mirador

Mirador, the leading small business lending platform provider, announced today that Zions Bancorporation, one of the nation’s leading small business lenders with $70 billion in assets, selected and has fully launched Mirador’s digital lending platform to substantially expedite the loan application experience for customers and materially improve efficiencies within the bank.

Mirador’s platform enables Zions Bancorporation’s affiliates to provide loan applicants with a digital, omnichannel, application experience, while all credit decisions are made using Zions’ proven underwriting criteria. Borrowers are given the flexibility to start and complete their applications from any location and at any time - whether that be on their mobile device, in the comfort of their office or in the bank branch. “We find many applicants start the application process inside a branch and then head to their office to complete the process. Our platform allows the transition from branch, to office, to mobile to remain seamless for the applicant,” said Trevor Dryer, CEO and Co-Founder of Mirador.

“Time is a precious commodity, perhaps even more so for small business customers who often function in so many roles. We want to provide them with the best experience possible, requiring less time from them, and delivering a product much faster than most of our competition,” said Lori Chillingworth, executive vice president and director of Enterprise Business Banking at Zions Bancorporation. “Since deploying Mirador with a trial launch in late 2018, we’ve been impressed by the response from our clients who appreciate how the convenient and simple digital loan application process works with their demanding schedules. We look forward to maintaining our much faster application response time while helping small business owners access attractively-priced capital.”

The Mirador platform utilizes integrations to further simplify the process for customers. By working with systems that small business owners use daily, such as Quickbooks, applicants save hours compared to the traditional lending process.

In addition to the improved customer experience, Mirador’s platform has improved efficiency inside the bank. The platform consolidates all relevant data for loan applications while also streamlining communication between the bank’s various departments and teams. As the online business lending space is becoming more crowded, banks are looking for solutions to make time-consuming and tedious processes more efficient for their customers so they can remain competitive.

“Banks know their customers best,” said Dryer. “We’re excited to be working with the Zions team to digitize its lending process so it can continue to provide its existing and prospective customers with the best products and a simpler, easier and faster experience.” 

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