This Bank Is Adding a Lot of Tech Firepower -- Here's Why It Can Grow Quickly

Customers Bancorp (NYSE: CUBI), a $20 billion bank in Pennsylvania, saw its stock price rise about 260% in 2021. But I still think this one could just be getting started given all of the digital banking and payments capabilities the bank is currently in the process of implementing. Here's why.

You won't see too many banks rolling out the sheer amount of innovative digital and niche banking products that Customers Bank is. In one area, the bank has created a digital lending platform for small- and medium-sized businesses (SMBs) in which the entire underwriting and funding process is fully automated. The first product offered through the platform are loans through the U.S. Small Business Administration's (SBA) 7(a) program, in which banks partner with the government to extend funding to riskier small businesses. The platform enables borrowers to apply for loans of up to $350,000 and get a decision and close the loan in under 30 days, which is incredibly fast and efficient in the SBA world.

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Source Fool.com