Leading San Francisco Bay bank adds Numerated to meet businesses’ growing digital demands
BOSTON (July 27, 2021)—Community Bank of the Bay (CBB), a leading San Francisco Bay area commercial bank, has partnered with Numerated, the fast-growing fintech making business banking easy for financial institutions and their clients.
With a reputation for being an innovative community bank, CBB will use Numerated's digital lending platform to meet business clients' growing demand for digital channels.
CBB will leverage Numerated’s digital lending platform to offer Oakland businesses term loans and lines of credit up to $250,000, completely digitally, from application through closing. In doing so, the bank will offer convenient digital borrowing channels and fast loan decisions to businesses, while benefiting internally from efficiency gains in their lending operations.
“As a San Francisco Bay area bank with a presence in Silicon Valley, technology and innovation are in our DNA,” said Community Bank of the Bay CEO William S. Keller. “Over the last year, we’ve watched customers rapidly adopt digital banking channels, creating new expectations for community institutions like ours. We’re excited to partner with Numerated to bring digital lending convenience to businesses.”
Numerated is a digital lending platform for business banking that dramatically reduces work for financial institutions and their clients by using data. More than 150 lenders have used its award-winning platform to originate and process loans for over 400,000 businesses, totaling more than $50 billion to date. The platform pulls in data at each stage of origination, including pre-filling borrower applications, aggregating data to speed banker reviews and offers, and fully automating the preparation of time-consuming document packages.
“Community financial institutions like Community Bank of the Bay are empowering businesses in their neighborhoods by meeting them when and where they want to bank, be it online or in person,” said Numerated Co-Founder and CEO Dan O’Malley. “We’re proud to partner with them as they continue to build out their digital capabilities.”
Learn more about Numerated by visiting https://www.numerated.com/.
About Bay Community Bancorp
Bay Community Bancorp (OTCPink: CBOBA) is the parent company of Community Bank of the Bay, a San Francisco Bay Area commercial bank with full-service offices in Oakland, Danville and San Mateo. Community Bank of the Bay serves the financial needs of closely held businesses and professional service firms, as well as their owner-operators and non-profit organizations throughout the San Francisco Bay Area. Community Bank of the Bay is a member of the FDIC, an SBA Preferred Lender, and a CDARS depository institution, headquartered in Oakland, with full-service branches in Danville and San Mateo. It is also California’s first FDIC-insured certified Community Development Financial Institution and one of only three operating in the Bay Area. The bank is recognized for establishing the Bay Area Green Fund to provide financing to sustainable businesses and projects and supports environmentally responsible values. Additional information on the bank is available online at www.BankCBB.com.
Numerated is a fast-growing fintech making business banking easy for businesses, bankers and underwriters. Banks and credit unions use Numerated’s digital lending and account opening platform to meet clients’ expectations for digital convenience and to bring efficiency gains to their internal teams. The platform has been used by more than 400,000 businesses and processed more than $50 billion in lending. The company was recently recognized as one of 2020’s Top 250 FinTechs by CB Insights and 2021’s Best Overall Business Lending Company by FinTech Breakthrough.