Penny Crosman at American Banker covered the news, and shares the backstory of how Karen learned about Numerated, met our CEO Dan, and ultimately decided to invest in the company.
Having been an investor and business owner of companies ranging from manufacturing, food production and service-enabled technology, Karen is a leading authority on U.S. competitiveness, entrepreneurship and innovation. She served in President Barack Obama’s Cabinet as the Administrator of the U.S. Small Business Administration (SBA) from 2009 to 2013, where she managed a loan guarantee portfolio of more than $100 billion and led the agency’s economic recovery efforts in the wake of the Great Recession.
“Technology has the power to help business owners better understand their business cycle and transform how they access the capital they need, when they need it,” Karen said. “The innovation Numerated brings to its partnership with banks positions lenders to meet these needs and help businesses maximize their opportunities in this fast-moving economy.”
Numerated’s real-time lending and growth platform helps banks and credit unions digitally transform to become the most attractive business banks in their communities. Local bankers and branches are armed with actionable business intelligence to have proactive conversations with businesses, and businesses can secure loans or lines of credit from their local bank in as few as three minutes.
“Karen shares in our belief that technology can create greater opportunity and more effective partnerships between small businesses and the financial institutions who serve them. We’re grateful to tap into her decades of experience in understanding the intertwined roles banks and businesses play in growing local economies across America,” shared Dan O’Malley, founder and CEO of Numerated.
Karen is a Senior Fellow at the Harvard Business School, and the author of the forthcoming book Fintech, Small Business & the American Dream: How Technology is Transforming Lending and Shaping a New Era of Small Business Opportunity (March 2019, Palgrave Macmillan).
Karen discusses Numerated in her book, including the story of the technology’s initial development within and for $11B Eastern Bank and as an example of how data, automation, and artificial intelligence are being used to evaluate the credit worthiness of businesses.
Karen and Dan will speak together at Barlow Research’s 2019 Business Banking Conference in Chicago on Tuesday, May 21, 2019. Here they will discuss the opportunity for banks and credit unions to leverage technology to attract and deepen relationships with businesses.