Agility Bank, Numerated Partner on ‘Bank of the Future’

Women-led commercial community bank “Agility Bank (in organization)” is calling on FinTech startup Numerated to help it offer streamlined, digital lending experiences to clients using its full suite of business banking products, according to a press release.

Agility Bank is being established under a special Minority Depository Institution charter of the Office of the Comptroller of the Currency (OCC), the release stated. The institution is focused on helping small- to medium-sized businesses (SMBs), primarily those owned by women or minorities, with an all-digital approach.

“We looked for providers with a proven and nimble tech stack that would allow us to hit the ground running on Day One and be agile in using data in innovative ways,” said Agility Bank Founder, Chairwoman and CEO Lauren Sparks in the release. “With Numerated, our lending and account team will use a single, flexible platform to originate our full suite of business banking products with the client-centric, digital-first experience that today’s business owners deserve and want.”

Numerated is a Software-as-a-Service (SaaS) digital loan origination system for business banking that pulls in data at each stage of origination, pre-filling applications, automating spreadsheets, aggregating data, scoring applications and automating the preparation of document packages, according to the release.

“Rather than taking the historical back-office first approach to business lending, [Agility is] focusing on the client experience first,” said Numerated Co-Founder and CEO Dan O’Malley in the release. “We’re humbled to be their primary origination platform to deliver on their vision for launching the community business bank of the future.”

More than 140 community and regional financial institutions (FIs) have used Numerated’s platform to process more than $50 billion in lending for over 400,000 businesses, the release stated.

In September, Numerated teamed up with legacy FI Independent Bank to advance commercial digital lending operations in Michigan.

Read more: Independent Bank Drives Digital Lending With FinTech Numerated