Entegra Bank Chooses Velocity Solutions to Power Its Small Business Digital Lending

| By:

bank signVelocity Solutions announced today that its Akouba digital lending platform was selected by Entegra Bank to power the bank’s digital lending for its small and medium-sized business customers. Akouba provides community and regional banks with origination and underwriting services.

“We selected Akouba not only for their cutting-edge technology and willingness to work with us, but for the very positive impact we believe this will have on the bank’s bottom line and on the customer experience,” said Charles Umberger, Executive VP and Chief Lending Officer for the Franklin, NC-based Entegra Bank.

According to the Velocity Solutions statement, Akouba is the only small business digital lending solution endorsed by the American Bankers Association (ABA). Akouba was endorsed by the ABA back in February 2017.

“The ABA’s endorsement will give lending institutions the assurance that Akouba’s solutions meet the highest standards,” said CEO of Akouba Chris Rentner, when they received the endorsement from the ABA. “In a rapidly changing lending environment, and with marketplace lenders disrupting the business lending space, our platform will help banks bring their customers the technology they have been lacking.”

In the same way that OnDeck’s ODX is trying to improve online lending for large banks, like Chase and PNC, Velocity’s Akouba does the same thing for regional banks.

“The small business loan application process is very time-sensitive and costly for banks, and there is a need to simplify and accelerate the process,” said Bryan Luke, chairman of ABA’s Endorsed Solutions Banker Advisory Council.

Velocity Solutions, which operates Akouba, is based in Fort Lauderdale, FL and employs over 100 people, according to Crunchbase. Entegra provides personal and business banking serves at 20 retail branches throughout Georgia, North Carolina and South Carolina.   

Last modified: December 18, 2018

Category: Banking, Fintech, Industry News

Home Banking, Fintech, Industry News › Entegra Bank Chooses Velocity Solutions to Power Its Small Business Digital Lending


    Splash Advance

    Total Merchant Resources

    Titan Asset Management

    South End Capital


    Austin LLP

    Dedicated Financial GBC

    deBanked CONNECT MIAMI

    Unique Funding Solutions

    Select Funding

    Green Note Capital

    Paz Funding Source

    Amerifi Capital


    Highland Hill Capital

    Forward Financing

    Smart Business Funding


    Balboa Capital

    Meridian Leads

    Fenix Capital Funding

    CFG Merchant Solutions

    Global Funding Experts

    In Advance

    Pearl Capital