In 2014 we set out to help banks and other lenders improve the way construction lending works with technology. After first-hand experience with the frustrations of managing residential, commercial, and land development construction loans, we knew that modern technology had to be introduced to improve this complex area of lending.
Digital is here to stay. And it’s even impacting construction lending!
Here at Built, we're extremely proud of the work that we do -- both in our product and customer service. And we've been getting recognized for it lately. But no award will ever mean as much as words of praise coming directly from a customer.
Chris Boyd, one of our Product Managers at Built, has some great ideas that can help you get internal support for pushing initiatives forward.
We all have ideas on how to improve the businesses we work in, but translating those ideas to others or getting buy-in is often easier said than done. After all, change is hard for many people to accept. Here is the methodology we use at Built that can be used in any business.
We’re honored to announce that Built was named a FinTech Forward “Company To Watch” by American Banker and BAI. FinTech Forward is the industry-standard global rankings of the top fintech providers and the award honors promising, innovative young companies with “a compelling offering and solid business model”.
If you're involved in construction lending, you already know the process functions almost the same today as it did 30 years ago. From the largest financial institutions in the world to the smallest local community banks, the origination and management of construction loans currently requires heavy loan administration staffing, duplicative data entry, complex and inconsistent spreadsheets, phone calls, emails, and even faxes. This antiquated nature of managing construction loans creates information disparity between key stakeholders and usually results in all participants operating in the dark.
The principles of transparency, simplicity, speed, reduced risk, reduced cost, and enhanced user experience are being applied to all aspects of financial services