Mirador Financial Joins Forces With Synergy by Association to Bring Advanced Lending Technology to the Banking Industry

PORTLAND, OR–(Marketwired – Jul 9, 2015) – Mirador Financial, providing a cloud-based small business lending platform that helps financial institutions make smarter, faster lending decisions, has forged a strategic partnership with Synergy by Association, Inc. that will enable banks around the country to leverage Mirador’s advanced technology platform to originate more small business loans, quickly and efficiently. Synergy by Association, a wholly owned subsidiary of the Oregon Bankers Association, will initially offer the Mirador platform to banks in Oregon with plans to expand the program to state bankers associations across the U.S.

“Our goal is to provide the solutions our member banks require to effectively meet the needs of their communities, which includes serving the small businesses that are the backbone of local economies,” said Linda Navarro, president and CEO of the Oregon Bankers Association and CEO of Synergy by Association, the latter of which provides association members with access to superior products and services through partnerships with industry-leading suppliers. “Mirador’s platform gives banks an important technological edge, allowing them to be more efficient when originating small business loans and providing a foundation from which they can increase their small business lending in a cost-effective manner.”

“Small business lending can be a challenge. Businesses are quirky — each one has unique risks and data can be sparse. It often takes lenders days, if not weeks, to gather the necessary information and make a determination about each company’s loan application,” said Trevor Dryer, Mirador CEO and co-founder. “In an evolving marketplace, where online lenders are seeking to take market share and customers away from banks, we provide the tools that enable banks to compete; make faster, more profitable loans; build stronger customer relationships and attract new qualified borrowers.”

Mirador’s solution allows banks to deepen the personal relationships they have with their small business customers by facilitating a better loan application and underwriting experience and makes it possible for banks to originate more small business loans.

The secure, cloud-based platform gives banks the power to expedite the processes of qualifying, originating and monitoring loans by eliminating many manual processes. The platform is easily integrated into existing bank operations, and automates loan application, data collection and decision-making processes. By minimizing these labor-intensive tasks, banks are able to improve the profitably of small business lending by reducing origination costs and making the most educated decisions using a wide variety of data, while maintaining their internal credit standards and criteria. The platform also helps banks reduce losses by offering an on-going loan monitoring service that tracks key data sources to identify any potentially problematic loans before they go into default.

Information on the Mirador solution is available via Synergy by Association at www.synergybai.com/business_partners/mirador.

Interested banks can contact Mirador Financial directly at 503-451-0518, [email protected] or online at info.miradorfin.com/synergy/oba.

About Synergy by Association
Synergy by Association is a wholly owned subsidiary of the Oregon Bankers Association, providing trade association members with superior products and services through partnerships with industry-leading suppliers. More information is available at www.synergybai.com.

About the Oregon Bankers Association
Established in 1905, the Oregon Bankers Association is Oregon’s only full-service trade association representing state and national commercial and savings banks chartered to do business in Oregon. More information is available at www.oregonbankers.com.

About Mirador Financial
Mirador Financial offers a cloud-based platform that helps lenders make smart, fast small business loan decisions. The platform leverages big data and algorithmic decision-making to help banks, credit unions, nonprofits and other types of lenders provide small businesses with a positive borrowing experience by streamlining the loan application and approval process, while dramatically increasing the speed of transactions and minimizing losses. Mirador helps lenders find new customers, monitor loans after origination and make accurate underwriting decisions. For more information, visit www.miradorfin.com or follow on Twitter @miradorfin.