The changing landscape of business banking through SaaS, entrepreneurship in Boston, and Eastern Bank were all topics of discussion in a recent interview with Numerated CEO Dan O'Malley on Bloomberg Boston Radio.
Dan participated in "The C-Suite" segment on Bloomberg Radio's Baystate Business show, in which the hosts interview executives in the greater Boston area.
Dan described Numerated's real-time lending platform, but he also went into detail of the company's origins and the future of business banking in general.
"I think everyone would agree...the future is going to be more digital than the past has been," Dan says. "But that transformation is hard for banks."
Dan is asked how banks react to Numerated's disruptive technology. He explains that the company focuses on business banking today, making small business loans, and that it's been a boon for banking.
"That is where smaller banks really shine," he says.
Dan goes on to explain how Eastern Bank - the community bank where Numerated was incubated - is the No. 1 business bank in the hyper-competitive Boston market.
"It's truly a phenomenal institution," Dan says. "We find that smaller and mid-sized banks like Eastern will compete to win. They will work harder to build relationships than any other banks."
You can listen to the entire broadcast here, Dan's interview begins at 54:37.