We’re excited to announce that Mirador CEO and co-founder, Trevor Dryer, is now officially a member of Forbes Finance Council!
His newest article just launched on Forbes and probes the topic of neobanks, also known as “challenger” banks.
Historically the only funding choice for small business borrowers, traditional bank lending processes were slow and methodical – a necessary evil for small businesses requiring capital. Status-quo lending processes were painful for banks, too. With paper-based applications and manual processes, smaller-value business loans cost
as much to underwrite as bigger-value loans.
Enter neobanks. Joining alternative lenders and earlier fintech startups to fix many weaknesses of traditional banking, neobanks bring a faster, simpler, digital process to consumer banking. But do these neobanks pose a risk to traditional small business lenders — or present an opportunity for next-wave growth?
Read Dryer’s article for his insights, which may well surprise you.
As a contributor to the Forbes Finance Council, Dryer will share his perspective on improving access to capital, small business lending challenges and opportunities, and other trending topics in banking, small business lending, and fintech. Be sure to follow Dryer’s contributor page.
Forbes Finance Council is an invitation-only organization for executives in successful accounting,
financial planning and wealth management firms.