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PrecisionLender Demo, Small Biz: Banking Conference 2019

Founded:

2009

Company Website:

www.precisionlender.com

Product Name:

PrecisionLender

Company Description:

PrecisionLender is modernizing commercial banking. Our sales and coaching platform empowers bankers with actionable, in-the-moment insights and coaching, so they win better deals and build strong, more profitable relationships. 12,000+ bankers at 200+ banks – ranging from $1B to $1T in assets – use our solution. Set your bank apart with PrecisionLender’s applied banking insights. Visit precisionlender.com to learn more.

What does your product solve?

Banks are sitting on oceans of data but are struggling to make it impactful. PrecisionLender software gathers that information, analyzes it, and provides it to commercial bankers via actionable, in-the-moment insights and coaching, empowering them to structure, price, and negotiate winning deals. The result is stronger, more profitable relationships for both the relationship manager and the bank.

Best Success Story:

United Bank chose PrecisionLender because they wanted something that was live to the market, was iterative, and allowed for scenario analysis. Since implementing PrecisionLender, and integrating the solution with CRM and LOS systems, United Bank has improved their ability to steer their portfolio, to determine if the deals they’re pricing are profitable, and the way their RMs approach pricing deals. They’ve enjoyed around a 200 to 300 basis point increase in their ROE.

What makes your company or product great?

The banking industry doesn’t have an expense problem. It has a revenue problem. Despite dozens of new product offerings, the revenue generated by each dollar of assets is down by more than 21%. And the declineshows no signs of stopping. Yet, the vast majority of technology spending is focused on wringing more efficiencies out of everfewer employees.

PrecisionLender tackles this revenue problem head on.It is a sales and coaching platformspecifically designed to drive revenue growth.

The productwe sell is not a series of calculations. We sell outcomes, and we sell changed behaviors. We achieve these outcomes by coaching frontline commercial bankers (RMs) with actionable, in-the-moment insights paired withaccountability.