FORT LAUDERDALE, Fla. – June 15, 2021, Velocity Solutions, LLC announced that CIBC Bank USA will use Velocity’s digital lending platform to support its small business banking division.
Akouba’s secure cloud-based SaaS platform reduces the cost and time and risk of originating loans, while increasing the profitability of each loan. Financial institutions retain control over the decision, the pricing, the credit policy, the risk metrics, the loan dollars and the borrower experience.
“We’ve made tremendous progress with the platform since we acquired Akouba in June 2018,” said Mike Triggiano, EVP of Product Management at Velocity Solutions. “We’re continually refining the platform and adding new features and functionality. It’s been a thrill to enhance Akouba’s industry-leading technology over the past two years, and the opportunity to add CIBC Bank USA to our growing list of clients is definitely one of the most exciting milestones in Akouba’s history to date.”
“At CIBC, we are building an innovative, relationship-focused bank,” said Brant Ahrens, President of Retail and Digital Banking and Head of U.S. Strategy and Administration. “Akouba gives our small business clients the ability to seek financing on any device at any time in any place that is convenient for them. Combining the flexibility of Akouba with the insight and expertise of our relationship bankers positions CIBC to help our clients make their ambitions a reality.”
To learn more about Akouba’s digital lending platform, visit: www.myvelocity.com/akouba.
About Akouba by Velocity Solutions, LLC
Akouba™ by Velocity Solutions is a secure, cloud-based digital lending platform for retail and commercial lending. The Akouba platform was built to reduce end-to-end time of loan origination, increase profits and give both borrowers and financial institutions a streamlined experience. Akouba is the only small business loan origination platform endorsed by the American Bankers Association (ABA).
Founded in 1995 and servicing the transaction accounts of over 30 million consumers and business owners, Velocity Solutions is the leading provider of revenue-driving solutions for community banks and credit unions. Our Velocity Intelligent Platform™ powers Akouba and all of Velocity’s solutions, using machine-led intelligence that delivers powerful analytics and drives revenue, loans, account holder engagement and non-interest income to our client financial institutions. For more information, please visit: www.myvelocity.com/akouba.