Live Oak Bank deploys new commercial lending platform

Live Oak Bank has deployed Cync Software’s commercial lending platform to streamline financial spreading, automate credit risk analysis and improve portfolio monitoring efficiency.

The deployment enhances Live Oak’s ability to streamline financial spreading, automate credit risk analysis and strengthen portfolio monitoring, marking another step in the bank’s push toward digital transformation, according to a Sept. 15 Live Oak release. Live Oak, one of the nation’s largest lenders to small and middle-market businesses, selected Cync to reduce reliance on manual processes while improving accuracy and speed in credit evaluation.

The bank expects the platform to enhance covenant compliance tracking and provide deeper insights into borrower performance, helping to support sustainable growth in its commercial portfolio. Cync Software provides cloud-native lending solutions to banks and credit unions nationwide, offering tools for origination, servicing, spreading, covenant monitoring and AI-powered credit insights.

Cync’s partnership with Live Oak highlights how lenders are adopting digital platforms to stay competitive, strengthen portfolio management and deliver more value to business customers, according to the release. The bank had equipment lease income of $3.1 million for its second quarter ended June 30, up 28.1% year over year.

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