TurnKey Lender in Gartner’s fresh commercial lending automation reports
TurnKey Lender, the global platform that automates lending processes for consumer and commercial finance providers, has been recognized as a Representative Vendor in the 2023 Gartner Market Guides for Commercial Banking Cash Management and Trade Finance Solutions and Commercial Loan Origination Solutions.
Gartner Market Guides are used by Bank and Enterprise CIOs to evaluate solutions and inform decision-making.
Market Guide for Commercial Banking Cash Management and Trade Finance Solutions
As per Gartner, “modernizing cash management and trade finance solutions has become essential for banks to bring greater intelligence to institutional clients’ working capital management. Bank CIOs can use this Market Guide to understand the direction of these solutions and the provider landscape.”
According to Gartner research, “there are many cash management and trade finance vendors globally, but only a small number can offer integrated cash management and trade finance software suites or platforms to banks as a one-stop solution.”
One-stop platform solutions like TurnKey Lender not only offer suites of products; these products are also integrated with advanced technology, streamlined workflows, simplified and smooth client services, such as chatbots and self-service tools, and data analytics. Such integrated approaches are advantageous for banks as they ensure seamless processes and interoperability.
Market Guide for Commercial Loan Origination Solutions (CLO)
Gartner sizes the market as at least 50 vendors globally. Vendors were required to have a CLOS that can be separately deployed from the core banking solution, cover SME and commercial banking segments, and have a significant number of active clients for loan origination.
As per Gartner, “CLO solutions enable banks to assess, process, approve and manage lending requests from multiple channels and businesses. Bank CIOs should evaluate solutions based on analytical and workflow capabilities, connectivity features, channel functions, curated APIs, and customization potential.”
TurnKey Lender’s approach of offering an integrated end-to-end lending platform that addresses all major commercial needs.
Dmytro Voronenko, CEO & co-founder of TurnKey Lender, commented: “We’re delighted to be recognized by Gartner. Our inclusion is testament to our market-leading position and our ability to deliver integrated solutions that cater to the evolving needs of commercial banks and other financial institutions worldwide. We are fully focused on continuing to innovate and excel in our offerings.”