Background
TAB Bank is Utah-based regional bank founded in 1998. They are headquartered in Ogden, Utah – with three offices spread across two states. TAB Bank focuses primarily on Utah-based customers and was recently named “Best Community Bank in Utah” in 2023.
Since opening its doors in ’98, ‘Transportation Alliance Bank’ provides a wide variety of financial services to businesses across the country. They have always aimed to serve the underserved and have become loan-providing leaders in the transportation industry.
The Challenge
TAB Bank was in search of a platform to improve their front & backend experiences. They needed a system that could accommodate a high volume of Term loans to be streamlined for their small to medium-sized clients. CEO & President, Rick Bozzelli described their mission to “provide access to capital and financial success for everyone.” The theme of growth is evident with TAB as they always emphasized a need for SMBs to get the capital they require to grow. Leveraging a turnkey, digital experience was necessary for the bank to achieve the efficiency and volume growth they required.
The Solution
In February of 2023, TAB launched their own Biz2X Ascend platform aimed to streamline Term loans for SMBs across the greater-Utah area. The platform features a borrower, frontend journey paired with a customized banker, backend portal. In addition, the bank launched their own affiliate broker portal in July of 2023 to drive even more loan volume through their Biz2X instance.
The Results
TAB Bank went live with Biz2X in February ’23.
- 450+ new applications decisioned in Biz2X for 2023.
- $160,000 average loan amount approved.
- Over 1600 new applications created in 2023
- App creation to decision time: 19 days
