Luminous reduces lending risk for Commercial Banks

One of the major pain areas banks are facing today is how to increase lending to business customers while reducing risk.

According to Luminous Global Head of Sales, Andrew Buchanan, ‘When it comes to lending we are seeing two issues, firstly from customers who are worried that if they apply for a loan and are refused it will damage their credit rating and secondly from banks who are being pressured to lend more money while reducing risk.’

Luminous’ latest enhancement to its BankFiling solution significantly reduces lending risk as it enables banks to monitor the ongoing financial health of their customers by processing detailed customer information instantly and sending bank personnel a system generated report outlining potential risk and qualification levels.

BankFiling also gives customers the ability to upload key information anonymously to determine their eligibility for a business loan, encouraging prospective customers to apply for loans without compromising their credit rating.

About Luminous: Luminous is a boutique innovation company that has successfully introduced a number of global firsts into the banking world. Luminous’ unique business case driven approach delivers excellent ROI for banks. Luminous will be demonstrating its latest innovation, BankFiling at FinovateEurope in London 12/13 February 2013.

About FinovateEurope: FinovateEurope is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in London, the event offers an insight-packed glimpse of the future of money via a fast-paced, intimate and unique format. FinovateEurope is organised by The Finovate Group. For more information on the event or to view videos of previous demos, please visit www.finovateurope.com.’

For Luminous, email philippa.newnes@luminousbanking.com Website: www.luminousbanking.com, Twitter: @luminousbanking.com