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Mantis Funding - Digital Financing Has Been Liberating For The SMEs

SMEs are a dynamic force propelling the economy of every nation, and nowhere is this more apparent than in the evolving and ever-growing economy of the United States. It represents over half of the global GDP and employs nearly two-thirds of the worldwide workforce, and yet they have always received a dismissive bias from the incumbent banking industry for varied reasons.<br><br>

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Mantis Funding - Digital Financing Has Been Liberating For The SMEs

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  1. Digital Financing Has Been Liberating For The SMEs

  2. SMEs are a dynamic force propelling the economy of every nation, and nowhere is this more apparent than in the evolving and ever-growing economy of the United States. It represents over half of the global GDP and employs nearly two-thirds of the worldwide workforce, and yet they have always received a dismissive bias from the incumbent banking industry for varied reasons.

  3. However, the good news is that the SME segment is no longer strapped for choices when it comes to financing needs. A range of alternative financing companies like Mantis Funding Cash Advance is fast mushrooming to address the needs of this high potential space. Leveraging a combination of digital technology, enterprise software, and big data analytics, we can analyze the pattern of funding needs of this particular sector and offer highly competitive products and enhanced services.

  4. The global investment in our Alt-lending companies accurately reflects their exponential rise. As per a U.S report, the total investment in our sector was U.S$12.21bn in 2014, triple the amount quoted for 2013, and since then, it has only grown manifold. It is accurately predicted that by the year 2030, 20% of the traditional set up of banks shall cease to exist, rest shall be just that, an anachronism in the digital age.

  5. Emerging technologies and innovative business practices are fast revolutionizing the SME access to financial services:

  6. Wider Range of Financial services: The road to SME Growth is filled with challenges and roadblocks right from inception. Once the start-up is taken care of, the next level of expansion/growth, or remodeling, or diversification or consolidation each has its own set of financing needs. Our online applications offering a range of short term and long term Cash advance facilities and automated underwriting of Cash Advances comes across as a lifesaving boon in such a changing scenario and makes possible, fast, and quick disbursement of funds a reality.

  7. Technology At Finger-tips: Cloud-based accounting, digital payment facility, and automation of invoicing and settlement processes make the entire process transparent and hassle-free.

  8. Digital Data Bank: Now, an extensive data pool of customers makes it possible to locate those companies with no history of credit record. Since Alt lending agencies like Mantis Funding use varied social media data and takes information from a range of tech records to build up their case, the customer history is much more holistic, well-rounded, and authentic.

  9. Advanced Credit Scoring Models: Moreover, the tech-based credit scoring models fare far better than the traditional models at predicting risk on account of three major factors:

  10. 1. Behavioral variable and network indicators provide far more stable data than the older pattern of balance sheets.2. Real-time transaction data is far more reliable than traditional finance indicators.3. Machine learning methods analyze non-linear interactive relations among individual variables than do traditional linear models.

  11. Faster, Quicker, And more Economical: Digitalization allows credit applications to be processed within record 24 hrs. At Mantis Funding the funding business is developed around the “310” model which allows a customer to fill in the application in less than 3 minutes, once it is approved the money is credited in his account within one second, and there is zero human intervention in the entire process, which also translates to make the entire process cost-effective since millions of cash advances are disbursed despite having less than 1000 core employees.

  12. Digital Footprint: Alt-lending companies like Mantis Funding Cash Advance also help customers to build their own digital footprint and a good credit track record. The online availability of all data records of cash advances and repayments help to build a solid foundation for future funding base. Leveling of the funding segment has been the biggest takeaway from the growth of our global Alt-lending agencies of business, and this has a much wider manifestation of the financial inclusion of the entire globe.

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