How Small Business Owners Data Saves Lenders Money and Improve Results
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How Small Business Owners 
Data Saves Lenders Money and 
Improve Results 
 
 
 
 
    By James Mary on June 17|2021 
 
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Table of Content 
 
Introduction………..…………….………………………………….…………..……………………………….. 3 
How Lenders Can Use Data to Market Their Product and Service …………………...…. 3 
Key Metrics Derived from Small Business Data……….……...………………………...……….. 4 
How Data Can Help Lenders to Overcome marketing Challenges……………………….. 5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Introduction: 
To stay ahead of the competition, boost sales and profit, and survive in this 
competitive lending environment, small business lenders need to pitch their 
products and services to the right type of customers. 
Marketing your products and services to the right audience with the right message 
and at the right time is essential to take your lending business to the new height 
of success. 
So, who is the target audience for lenders? 
It is typically potential borrowers looking for working capital to meet their unique 
financial needs - borrowers who need funding to successfully run and grow their 
businesses. 
Finding these potential borrowers can be difficult but not impossible. In the age of 
real-time financial data, it’s become easier to find and target small business owners 
who are the best match for your financial institution. 
Marketing your financial products and services has numerous benefits. Primarily, it 
enables you to identify the best borrowers faster without wasting your time and 
efforts on targets unlikely to buy from you. And ultimately it can help you boost 
your marketing campaign ROI. 
How Lenders Can Use Data to Market their Products 
and Services: 
Small businesses need money sooner or later 
for a variety of reasons, from purchasing 
inventory or equipment to hiring staff, 
expanding, improving cash flow, or repaying 
debt. That’s a huge potential customer but 
you may only choose ones that meet your 
lending criteria. You may focus on borrowers 
with strong credit scores and business history 
and less risky ones. Knowing your potential 
customers is vital to taking your small 
business forward. 
 
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Fortunately, real-time financial data can help you solve this problem. Your 
borrower’s data enables you to segment customers who may meet the criteria of 
your potential customers. Ultimately, it helps you make more money as you’ll 
successfully sell more products and services, in less time. 
Without real-time financial data, it was difficult for lenders to choose the right 
customers for their products - it usually took a lot of time and hard work. Now, with 
advanced analytics techniques, smart algorithms, and state-of-the-art technologies 
such as artificial intelligence and machine learning, lenders can create a smart 
marketing list easily, quickly, and effectively. 
Today, lenders can access, analyze and use the most robust and real-time financial 
data of their borrowers through an API to reduce credit risk, determine 
creditworthiness, improve customer experience, market products, and services, 
and make data-informed lending decisions. 
Key Metrics Derived from Small Business Data 
So, what does the small business data tell 
you? Real-time financial data provides key 
pieces of information about a borrower, 
such as accounting, 
banking, and other financial data points. 
You can also view cash flow predictive 
data to determine the ability of a business 
to repay its debt obligations. 
Advanced data analysis can transform raw 
data into meaningful insights and offer 
information about how future circumstances can affect a borrower’s business and 
when and why borrowers are looking to buy a loan. This is crucial to your financial 
institution and enables you to focus on target borrowers/customers when 
developing your marketing strategy. 
You May Also Like: 
3 Ways Open APIs Are impacting the Financial 
Planning Process  
 
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How Data Can Help Lenders to Overcome Marketing 
Challenges: 
Data allows lenders to identify and 
meet their borrowers’ unique 
financial needs when they need it 
and therefore streamline 
marketing efforts. The most 
accurate, relevant, and reliable 
financial data can help you: 
● Target and acquire 
potential customers 
● Retain existing customers 
by offering personalized 
solutions 
● Up-sell and cross-sell products and services by seeing deep critical insights 
into borrowers’ financial health 
● Develop a lasting relationship with customers by improving customer 
experience 
Real-time financial data is an important tool for small business lenders. If you want 
to streamline your marketing efforts, find new customers, and increase sales, real-
time financial data can help. Today, there are some innovative financial technology 
companies like Codat, Validis, and ForwardAI that provide futuristic financial data 
APIs for lenders. Using these APIs, lenders can collect,standardize, normalize and 
use the most accurate real-time data of their customers to save money and 
improve marketing results. 
 
 
 
 
 
 
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Sources:  
https://www.demandjump.com/blog/how-is-data-used-in-marketing 
https://www.talend.com/resources/big-data-marketing/ 
https://www.fiserv.com/en/about-fiserv/the-point/big-data-big-impact-on-
lending-engaging-the-right-customers-with-the-right-solutions-at-the-right-
time.html 
https://internationalbanker.com/technology/why-real-time-data-matters-in-
financial-services/ 
 
References:  
https://corporatefinanceinstitute.com/resources/knowledge/other/products-
and-services/ 
https://www.thinkwithgoogle.com/intl/en-gb/consumer-insights/consumer-
trends/winning-the-moments-that-matter-right-person/ 
https://www.lawinsider.com/dictionary/potential-borrower 
https://www.investopedia.com/terms/r/returnoninvestment.asp#:~:text=Return
%20on%20investment%20(ROI)%20is,a%20number%20of%20different%20invest
ments.&text=To%20calculate%20ROI%2C%20the%20benefit,the%20cost%20of%2
0the%20investment. 
https://www.businesswire.com/news/home/20210422005295/en/ForwardAI-
Debuts-%E2%80%98ForwardAI-Precise%E2%80%99---A-New-Lender-first-API-
That-Delivers-Real-time-Robust-Accounting-And-Financial-Data-Suite-For-
Reduced-risk-Small-Business-Lending 
https://builtin.com/artificial-intelligence/ai-finance-banking-applications-
companies 
 
 
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