6JUNE - 2023Editor's NoteSecuring Business Loans in the Present Economic Climate The business loan sector is witnessing immense growth with the entry of non-bank lenders, challenging traditional lenders. New financial service providers are solidifying their positions by introducing advanced lending practices and digital transactional methods. This shift towards digital lending can create growth prospects for all involved.According to research, the business loan sector is projected to reach USD 2,895.17 billion by 2027, growing at a CAGR of 8.8 percent. Market growth is primarily driven by the flexible long-term lending options corporate lenders offer. Collaborations between digital lending organizations, fintech companies for payment collection, and green lending companies are contributing to market growth. The proliferation of smartphones has enabled companies to offer lending services through applications. The increasing adoption of digital lending services is expected to create further opportunities for market expansion.This edition of the Financial Services Review brings readers to the latest trends in the financial sector that influence interest rates and types of emerging financial models like embedded finance. It features thought leadership articles from Jolene Hale, Vice President / Commercial Loan Officer, First International Bank & Trust, who delves into the implications of shifting prime rates. Observing current trends, she explains that the prime rate, which affects credit lines, has increased rapidly in the past year. Considering historical trends, the current rate is relatively low. Prevailing interest rates are tied to the economic climate and impact various types of loans and services. It also features Chad A. Schmookler, Senior Director, International Operations, InComm, who talks about the advantages of embedded finance to financial service providers and their customers through better services based on a more accurate understanding of customer needs and risk profiles. Companies can expand their customer base while standing out from the competition.This edition also features ROK Financial, a small business loan provider, which demonstrates the ability of digital integration with its loan services in fulfilling business needs efficiently and quickly.In this edition featuring top business loan service providers, we hope you find the appropriate company suited to your financial services requirements.Let us know your thoughts.Copyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorJeff Rodriguez*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEmail:sales@financialservicesreview.comeditor@financialservicesreview.commarketing@financialservicesreview.com June - 25 - 2023, Vol 04-19 (ISSN 2835-9771)Published by ValleyMedia, Inc. To subscribe to Financial Services ReviewVisit www.financialservicesreview.com Jeff RodriguezManaging Editoreditor@financialservicesreview.comVisualizerMichael WayneEditorial StaffAaron Pierce Ashik Jain Ancel Castelino Ava GarciaGilbert Hoover Joshua ParkerPresley Meadow
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