Artis Technologies, a provider of modern point-of-need lending and payment solutions, announced it has entered into a new bank funding partnership with Drummond Community Bank for its Artis Credit platform. The funding will fulfill consumer loans originating through the company’s Home Improvement portfolio.
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Artis Credit is a platform for businesses to offer unique loan options direct-to-consumer with no start-up cost and minimal risk. It’s made possible by connecting financial institutions ready to provide financing through Artis’ API-based platform that uses alternative data sources, complex machine learning and AI to present real-time loan offers to individual borrowers. The platform is ideal for consumer-facing businesses with higher cost products and services.
Barclay Keith, CEO of Artis Technologies, said “I am pleased to announce this strategic partnership with Drummond Community Bank. Community banks are drivers of local business growth, and we want to provide them with technology to help expand their footprint and drive demand to small businesses. This partnership will allow the bank to get affordable financing options in the hands of consumers when and where they need it, and allow merchants the opportunity to grow their business.”
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When banks partner with Artis, they connect with a growing network of approved merchants able to extend unbiased credit to their customers on the spot. Artis equips businesses to be the face of that financing while giving banks an easy pathway to gain a new share of the consumer loan market. This approach provides banks access to turnkey lending rails and enables them to quickly scale and diversify their portfolios with minimized risk.
Through the partnership, Drummond Community Bank can grow their loan portfolio at scale, while customizable portfolio attributes allow them to be specific and strategic about distributing their assets. The combination of point-of-need financing with real-time funding allows the bank to offer the right loan at the right time with a simple, consumer-friendly experience.
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