StreetShares Platform: Setting the Benchmark for All-Digital Business Banking

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Mark L. Rockefeller, CEO and Co-Founder,Mickey Konson, President and Co-Founder
Digitalization in lending can no longer be myopically looked at as a mere cost-savings play or a way to eliminate time-consuming and complicated manual efforts. Rather, banks and credit unions must look at digital lending platforms as an opportunity to accelerate revenue, business growth, and profitability. Streamlined, fully digital banking approaches are replacing paperintensive, slow, and costly underwriting processes. Digital-savvy community lenders that offer a world-class, alldigital business banking experience are sure to gain a competitive edge with greater consistency in lending decisions and continual improvement in lending efficiency and portfolio performance through the use of analytics. At the cutting edge of the digital lending innovation is StreetShares Platform—an awardwinning financial technology solution provider powering community banks and credit unions to serve the full suite of banking needs of U.S small business owners.

StreetShares Platform offers the Atlas Platform—a digital business banker application marketplace—to help community lenders deliver the all-digital banking experience that small business owners demand. The Atlas Platform is a white-labeled, software-as-a-service platform supporting various modules or digital banking products that banks can offer to their small business customers. The platform features core-friendly integrations, including all-digital applications, automated scoring and decisioning tools, advanced portfolio analytics, and data-driven sales and marketing tools for mission-driven community lenders. Each application is a new product that banks and credit unions can offer their customers,” says Mark L. Rockefeller, CEO and Co- Founder of StreetShares Platform.

Mickey Konson, President and Co-Founder of StreetShares Platform, explains that banking institutions often lack robust technology to provide banking products to their customers in a digital way. Additionally, small-sized banks find it challenging to integrate digital lending solutions with their core loan operating system or teller system, owing to the long integration times and high costs. Starting from digital loan applications all the way through to the data integrations on the backend, the Atlas Platform provides sophisticated tools to allow community lenders to offer a superior experience to customers. To help banks discover prospective customers (small business owners) and offer them relevant business financial products, the Atlas Platform provides an innovative sales and marketing engine.
Mohan Rao, Chief Product and Technology Officer
The platform also offers insightful analytics to help lenders understand portfolio performance, team productivity, and funnel efficiency. At the same time, the platform’s small business owner hub and application enables small business owners to easily log in, apply for financial products, and check the status of their application.

At the core of the Atlas Platform is its decisioning engine that helps streamline submitted applications to credit underwriting in one click. Atlas Platform Decisioning Intelligence helps smart business lenders make accurate data-driven decisions. “Our experience as a direct digital lender with our own capital at risk for several years has allowed us to develop loan decisioning automation tools. Our decisioning automation technology has been tested over the years, developed, and improved. What distinguishes us from other fintech players is our ability to productize our lending expertise to improve the quality of underwriting loans with technology,” notes Mohan Rao, Chief Product and Technology Officer at StreetShares Platform.


What Is Unique About Us Is That We Deliver A Single Digital Platform With Different Applications Within It

StreetShares Platform is highly agile and quick in building and adding new modules to its Atlas Platform. When the Paycheck Protection Program (PPP) was launched, the company coded and built a PPP module within the Atlas Platform in a matter of weeks, processing around $4.45 billion worth of PPP loans. StreetShares Platform’s agility in adding modules and building innovative products can be attributed to its platform architecture: powerful integration layer, intelligence layer, platform layer, and digital application—the secret sauce driving the company’s success. The company has successfully condensed the long and arduous loan application process down to less than ten minutes, drawing financial institution clients who were initially skeptical about digitizing a process that used to be face-to-face and more relationshiporiented. As the Atlas Platform is a cloud-based software service, StreetShares Platform can make any changes quickly. Committed to providing a great product and constantly improving it based on customers’ feedback, the company aims to continue providing excellent customer service and user experience.

Company
StreetShares Platform

Headquarters
Reston, VA

Management
Mark L. Rockefeller, CEO and Co-Founder,Mickey Konson, President and Co-Founder and Mohan Rao, Chief Product and Technology Officer

Description
StreetShares is a financial technology company powering community banks and credit unions with next-generation technology to serve the full suite of banking needs of U.S small business owners

StreetShares Platform