Glossary of Terms

Prospective Customer Insights

Definition

AI-powered analytics that help lenders understand and engage potential borrowers before they apply for a loan. These insights leverage behavioral data, industry benchmarks, and predictive modeling to identify high-potential applicants and tailor marketing and outreach strategies.

By analyzing financial readiness, digital engagement, and credit eligibility trends, lenders can proactively nurture prospective borrowers, improve conversions, and optimize loan approval rates.

Why is it important to SBA Lending

Many small businesses hesitate to apply for SBA loans due to complex requirements or uncertainty about eligibility. Traditional lending models fail to identify and nurture potential borrowers early, leading to missed loan opportunities.

Prospective Customer Insights solve these challenges by:
-Identifying high-intent borrowers: Uses AI to detect potential applicants based on online behavior and engagement.
-Enhancing targeted marketing: Helps lenders personalize outreach efforts for better engagement.
-Reducing loan abandonment: Educates and guides borrowers before they enter the application process.
-Increasing approval rates: Pre-qualifies borrowers, ensuring only eligible applicants move forward.

What role does Parlay Play

Parlay analyzes prospective customer behavior to help lenders:
-Predict loan readiness: Uses alternative data and engagement metrics to assess borrowing potential.
-Automate personalized outreach: Engages high-potential borrowers with tailored loan options.
-Optimize funnel conversion: Ensures marketing efforts target the most promising applicants.
-Improve lending efficiency: Reduces wasted effort on unqualified leads, focusing on high-value borrowers.

Prospective Customer Insights enable lenders to proactively identify, engage, and convert high-potential SBA loan applicants. Parlay’s AI-powered system ensures higher loan completion rates, improved borrower engagement, and increased lender profitability.