PayNet improves the financial performance of small business lending by providing information tools to help:
The breadth and depth of PayNet’s unique small business loan/lease database provides the predictive data necessary to effectively manage small business lending risk.
“When becoming a PayNet member, we were hoping to gain better analytics around portfolio quality. The special projects such as analytics benchmarks help us make better decisions for our company. Additionally, we wanted to use the information in the PayNet database to improve our decision making and underwriting process. This aids in the reduction of the risk associated with bringing on new customers.”
Adam Warner, President
Key Equipment Finance
Increase Operational Efficiency
PayNet’s ability to provide automated information tools, containing key indicators of credit worthiness, reduces the need for manual processing, equating to faster processing time and lower operating costs.
“PayNet is the commercial lending industry’s missing link. PayNet provides comparable term data other data providers do not have. This unique data allows us the confidence to approve deals that otherwise would have been left on the table. This increases our lending volume while mitigating our risk. PayNet provides an unmatched depth of industry intelligence and predictive information to subscribing lenders.”
Director of Operational Risk
Great America Leasing Corporation
PayNet’s unique data provides information to better understand the risk profiles of borrowers, helping to reduce losses and unnecessarily declining applicants.
“The main reason we chose to become a PayNet member was to improve underwriting while focusing on the ultimate goal of reducing losses. PayNet’s competitive advantage would be their information and ability to give us more information than we had at the time. If you are in a similar business to Stearns Bank, I would recommend PayNet.”
Joe Schluender, Credit Manager
Improve Business Strategy
PayNet’s information tools provide the insight needed to improve line assignment, credit policy, Basel II compliance, risk-rating capabilities, and market understanding.
“We look to PayNet for industry-wide knowledge due to their database. Their market insight such as monthly delinquency trends gives us a good view of what is going on in the specific industry that we compete in. This knowledge is shared with Volvo senior management as well.”
Vice President & Managing Director
Volvo Financial Services
“Our PayNet sales representative is always helpful and proactive. The analytical work delivered by PayNet’s Analytics Team has been useful to our strategic planning process. Additionally, peer group comparisons have clearly influenced our collections and credit practices.”
Peg Maloney, SVP Credit Operations
Key Equipment Finance
Improving Your Profitability
There is always room for improvement in the credit-granting process. Customers do not want to wait for legal agreements, documentation, or other time-consuming aspects of the origination process. As a result, lenders and vendors are under intense time pressure to close their transactions as quickly as possible before the customer takes its business elsewhere. PayNet’s proprietary information tools and services help lenders enhance their profitability on each and every lease or loan. Improving profits, controlling delinquencies, and reducing the financial impact of write-offs and higher reserve requirements are all benefits that make a relationship with PayNet a major competitive advantage.