SOLO

Today we’re launching our paperwork automation product at SOLO! When we set out to automate credit workflows for banks, we assumed the hard part was decision-making — building integrations into third party databases, connecting data, and layering some rules and calculations on top. But for products like SBA loans, mortgages, factoring, and leasing — where paperwork is unavoidable — automation falls apart. Here’s the irony: workflow engines can automate a credit decision but can’t do something as basic as reading a document and asking the customer for missing information. They can crunch complex risk models, analyze repayment ability, and even predict default rates — but they still leave underwriters manually flipping through PDFs, tracking down missing fields, and stitching everything together across multiple tabs. That’s why we flipped the script. We want to empower bankers to own the decision-making — while we do the dirty work that makes decisions possible. SOLO’s Paperwork Automation ingests documents, extracts every relevant data point, flags what’s missing, and feeds it seamlessly into your workflow. Instead of workflow engines stalling the moment they hit paperwork, we eliminate the manual stopgaps so the automation can actually flow. Our latest template is designed to end the back-and-forth between brokers and lenders by: - Ingesting broker applications from anywhere—uploads, email inboxes, and file-sharing sites. - Extracting every relevant data point, categorized and interpreted according to your specified logic. - Flagging missing fields, auto-drafting dynamic emails, and sending them on your behalf (or from your mailbox). - Activating complete documents with embedded rules, tasks, and workflows. Customers already using this are seeing over a 50% reduction in underwriting costs — and yes, these savings come after switching from their existing tool. Book a demo with me here: https://hubs.ly/Q038BpbH0

Let's meetup. Catch the SOLO team at Fintech Meetup, March 10-13 in the BankTech Ventures Pavilion. Book time directly with the team, message us or schedule here:?https://hubs.ly/Q038tFsn0 Georgina Merhom Nadine Geagea K. Lee Gilliam

The key to SMB applications that enable lending at scale: re-engineering data collection so borrower and lender are speaking the same language from the very beginning. In SOLO, system generated financials reinterpret a borrower’s raw data into reporting that fits a lender’s particular credit lens, so lenders can: ? Create all of a borrower’s documentation for them from just an application, in under 5 minutes. ? Trust that data flowing through their systems isn’t just ‘true’, but means what it should based on the bank’s own logic. ? Automate underwriting for any borrower, in any industry, with any accounting method. This shift from processing self reported financials on a credit application to a system that ingests, recalculates, and activates a customer’s data is the way lenders transform their financing experience. Solving for both process efficiency and borrower experience simultaneously to: ? Help small businesses get their financial house in order. ? Create more qualified borrowers. ? Give underwriters better visibility, control, and traceability. Because at the end of the day,?it’s not just about collecting data.?It’s about making that data?work—for both the lender and the borrower. Demo SOLO:?https://solo.one

If you missed SOLO's masterclass on digital onboarding (TLDR: a pretty interface is not enough to automate digital lending) I’ve put together a recap and some lessons learned from working with several fintech lenders that shut down in 2023 and 2024 (and unfortunately counting).

If your digital onboarding isn’t automatically powering decisions with customer data, it’s just a pretty (expensive) screen. While much of the industry focus has been to give an application’s UI a face lift, the focus should be on the bigger picture: how is that data usable in a decision or workflow as soon as it’s received? Building connected experiences to ingest and activate data in lock step is in our product DNA, and why our application builder features 4,000+ integrations for receiving and pushing data across systems. In last week’s webinar,?Georgina Merhom and SOLO advisor and Co-Founder of Kabbage from American Express, Rob Frohwein, showcased how to grow new and existing borrower relationships by introducing account integrations to a loan application. In SOLO, lenders can harness this dynamic data to power the entire borrower relationship with: ? Frictionless Onboarding ? Continuous Underwriting ? Proactive Product Matching Watch the full masterclass at?https://lnkd.in/dgGPbTUX

Webinar Alert! See details below - would love to see you there. We took a risk at Kabbage. From the very start (2010!), we asked potential borrowers to give us direct data access to critical applications with which they ran their businesses. It was a requirement for getting an account. No data, no account, no capital. This was before Plaid even existed - and we reached 85% conversion doing it. Now almost 15 years later, data sharing is much more commonplace. One in every three Americans has connected their bank account somewhere. Despite the adoption, both banks and lenders are still reticent to make data connectivity a requirement and struggle to incent borrowers to permission access to their data for credit underwriting when they do. We spent years iterating on our process. This month I’m pulling back the curtain on our playbook for SOLO's master class on high conversion applications. We’ll walk through how to: 1. Align motives and incent borrowers to opt into data sharing. 2. Leverage connections to increase customer value. 3. Maintain connections to shape product innovation and empower your customers and drive results. And the template that ultimately led to:→ 85% application conversion rates → $9.3 billion in capital deployed → 240,000 SMBs served Join us on January 22 at 2 PM EST/11AM PST. Register here:? https://lnkd.in/gBdisYB7

Requesting access to an account. Will it ruin application rates or power an 85% conversion rate like Kabbage? Learn how to... 1. Incentivize borrowers to opt into data sharing. 2. Leverage connections to increase customer value. 3. Maintain connections to shape product innovation. From the Co-founder and CEO with a proven record of: → 85% application conversion rates → $9 billion in capital deployed → 240,000 SMBs served Join SOLO advisor and the Co-Founder/CEO of Kabbage, Rob Frohwein, for a master class in optimizing high conversion lending platforms.

We’re #hiring.

In the wake of the CFPB’s 1033 Open Banking Final Ruling, which affects credit reporting agencies, data aggregators, and financial institutions that handle consumer data, SOLO’s founder and CEO, Georgina Merhom, will join the American Fintech Council for their annual Policy Summit on November 19th for a panel discussion on AI in the context of the evolving regulatory environment. The panel discussion, AI on the Money: Navigating Finance and Regulation, will explore key policy issues shaping the future of consumer-permissioned data and financial inclusion, including challenges and opportunities arising from recent rulings impacting banks and data companies like SOLO. Register for the Summit at summit.fintechcouncil.org

Great opportunity to join an exciting, fast-growing early stage company [and join the BankTech Ventures fam]!! cc: Georgina Merhom