of meeting SMBs' lending needs — but the Kabbage acquisition could give Amex a major advantage over its legacy counterparts:
Many incumbent lenders rely on outdated risk assessment methods that aren't reflective of SMBs' specific needs. Incumbent banks have long struggled to find the optimal balance between efficiently serving SMBs and delivering the customer experience that SMBs require. In assessing creditworthiness of loan applicants, their lengthy application and evaluation processes instead use risk frameworks that either fit large businesses or individual borrowers.
Amex will gain access to Kabbage's proprietary machine learning algorithm to better identify creditworthy SMBs — and at a key time. Kabbage leverages a wide range of third-party data to assess creditworthiness, including traditional accounting statements, social media signals, and e-commerce transactions. Its real-time credit decisions cut down the application process to less than 10 minutes.
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