How TRaiCE is helping a California bank expand its portfolio with reduced risks
Lead prospecting in any industry comes with its own set of challenges. For banks, the credit risks associated with commercial lending compound these challenges exponentially. Misjudgments regarding business creditworthiness can easily lead to a portfolio filled with bad loans and consequential losses that exceed a bank’s set risk margins. In this context, conducting pre-screening due diligence on potential borrowers becomes a crucial task. For our client, having an in-depth due diligence process for hundreds of businesses was a challenge due to the labor-and-time-intensive nature of the undertaking. Here's how TRaiCE stepped in to solve this problem.