Build Loyalty with Personalized Lending

Banking has really changed its tune in the last few decades. The sector previously sparked images of cold, impersonal experiences that were clunky and intimidating (remember the bank scene in Mary Poppins?). Today, bank ads feature diverse people, imagery from everyday life, and even celebrity endorsements. But beyond front-office pleasantries, some banks and lending organizations do still operate with a “one size fits all” model — despite the fact that digital lending software can create personalized lending experiences more than ever.

3 Ways SPARK Personalizes Lending

  1. Use names where possible, not legalities.

Of course, you need to use a small business applicant’s legal name for documentation. But if the owner, Alexandra, goes by “Alex,” you should be able to personalize messages using the nickname in letters, email correspondences, and other less formal instances. This attention to detail goes a long way in making your customers feel like people instead of numbers in a system. 

Plus, you can see exactly what your applicant sees, creating shared understanding. And because applicants can access the SPARK platform too, you can even collaborate digitally, creating stronger engagement and human connections.  

  1. Boost transparency.

Depending on the lending institution (and the software they use), the loan origination process can take up to three months from start to finish. This is incredibly long for small business owners who are used to quick, transparent experiences in their lives as consumers. If you can’t speed up the process, you at least need to keep applicants in the know. 

SPARK is inherently a shared environment where users can see and collaborate on the same accounts in real time. More than that, SPARK is transparent with end customers. They can see:

  • Who is working on their loan process
  • What stage of lending their application is in
  • What documents have been submitted

Plus, lenders can “view as applicant” within SPARK to put themselves in the customer’s shoes. This level of transparency leads to greater understanding, perspective, and engagement on both sides.

  1. Create consistency and familiarity.

Consumers are used to slick apps with touchscreen functionality — not generic desktop software. Cloud-based, white label solutions allow for something as simple as branding the environment with your organization’s logo. This not only helps customers feel like they’re in the right place, but creates a sense of credibility and consistency across the lending entire journey. 

We Personalize Your Lender Experience, Too

Personalization isn’t just for end users. We know you and your team like things done a certain way too. During our four-week implementation and training, we give you advice and guidance based on decades in the industry, as well as experience with customers just like you. But our platform features also allow for ultimate configurability, meaning we can help you customize for your bank’s process. 

Plus, SPARK isn’t just another vendor for your bank. With a dedicated customer success manager, you have a real human to connect with on a regular basis, keep you informed of changes, and help you reach new goals. And when you share ideas for platform modifications or new functionality, they don’t just go to an unchecked mailbox. They go straight to our product team, where we seriously consider them for development. You can even track where they are in our product roadmap. 

See how we worked with The Bancorp to deliver configurability and personalized support. 

Why take the time to personalize experiences? Because the world has changed. People expect impeccable customer service at every turn — and when they don’t get it, they can easily turn to other options. Making lending more personal strengthens community relationships and builds lasting trust, generating repeat business whenever the owner needs help again in the future. The best part? All of their information is still there when they’re ready to start the process again. 

Learn more about SPARK’s customer-centric platform and process by scheduling a demo today.