“We’re thrilled that Seattle Bank has chosen Finastra and our partners at LoanStar to facilitate embedded consumer lending at the point of sale.

SEATTLE, March 29, 2023 (GLOBE NEWSWIRE) -- Seattle Bank is partnering with JUDI.AI, a software-as-a-service (SaaS) company that leverages artificial intelligence (AI) and open banking technology to provide a small business lending platform for banks, credit unions, and other lenders. With JUDI.AI, Seattle Bank will offer small business borrowers a simplified loan application and approval process that now takes minutes instead of a week or more.“Loan applications can be a daunting process, but integrating JUDI’s AI-enabled platform will create invaluable efficiencies for our small business borrowers,” said Josh Williams, EVP, Chief Banking Officer and Head of Partnerships at Seattle Bank. “This mutually beneficial partnership unlocks the ability for Seattle Bank to lend to small businesses quickly and seamlessly. It also gives us the opportunity to extend JUDI.AI technology and access to brands and marketplaces that lend to small businesses nationally.”Based in Vancouver, B.C., JUDI.AI is focused on helping community-based lenders reduce the friction that normally comes with small business lending. The platform streamlines a loan application, decisioning, and documentation process that can typically take seven days or more to less than 10 minutes. JUDI.AI’s cash flow-based approach to underwriting equips lenders with a real-time view into the financial health of small businesses—offering Seattle Bank a faster and more effective way to evaluate the creditworthiness of small business borrowers.“We knew we wanted to partner with Seattle Bank from our first conversation, after hearing how aligned our organizations are on innovating to serve customers digitally,” said Gord Baizley, CEO of JUDI.AI

SEATTLE, March 29, 2023 (GLOBE NEWSWIRE) -- Seattle Bank, a digitally-driven local bank, has announced a new embedded banking partnership with LoanStar Technologies (LoanStar), a fintech company that enables merchants and service providers to offer point-of-sale consumer loans. Consumers will now be able to quickly and easily access loans from Seattle Bank for high-value transactions, directly through the merchant.“At Seattle Bank, we evaluate every potential banking partnership by determining if the concept solves a problem for the customer, then aligning with a brand’s business imperatives,” said Josh Williams, EVP, Chief Banking Officer and Head of Partnerships at Seattle Bank. “In this instance, partnering with LoanStar allows its customers to accelerate the speed and convenience of point-of-sale financing while simultaneously allowing Seattle Bank to expand its reach to customers nationally. A win-win.”The collaboration is made possible through Seattle Bank’s scalable, configurable, open-API technology stack. This includes enabling real-time underwriting and loan fulfillment by integrating new functionality with Finastra, a global provider of financial software applications and marketplaces. Finastra’s FusionFabric.cloud open developer platform allows Seattle Bank to seamlessly integrate with its fintech partners, including LoanStar.LoanStar’s state-of-the-art technology connects lenders to borrowers through their merchant network, which spans several industries