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February 8, 2023

ChatGPT: AI vs. Advisor

ChatGPT, as we all know, went from nonexistent to fodder for dinner-party conversations and late-night monologues in the span of about two weeks—an unprecedented hype curve. Many of us are supposedly going to lose our jobs when they are automated away by this technology. Well, here at Aite-Novarica Group, we decided to test these notions. Can an AI write as well as or...

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David O'Connell

September 28, 2022

How Commercial Lenders Can Win in the War for Talent

The talent gap is affecting every industry, and commercial lending is no exception. The commercial lending space is mentally taxing, requires hard work, and can be a hard sell to younger members of the applicant pool. This last component is so challenging for commercial lending managers that it’s their primary barrier to growth. The formal credit training programs run by large banks in many...

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David O'Connell

April 21, 2020

PPP Round One and the Reputational Damage Done

So Paycheck Protection Program (PPP) round one is over, and what a storm it was. Some things went well, others went badly. These are worth considering somewhat closely. After all, there is at least another US$250 billion coming down the legislative pipeline. We are going to be at this for at least a few more weeks, maybe even a few months, if COVID-19 spikes in late fall, as did the Spanish flu...

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David O'Connell

April 13, 2020

The Other Spike in the Pandemic: Why That PPP Money Can’t Get Out There Faster

The challenge of getting all that Paycheck Protection Program (PPP) money out to businesses is the inverse of what’s going on with the pandemic itself. At the same time that the U.S. is trying to avoid a spike in demand for its healthcare infrastructure, it is actually invoking for its small-and-midsize-business (SMB) lending infrastructure a 100-year storm in lending demand. Unsurprisingly, the...

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David O'Connell

November 15, 2019

Commercial Banks Are Partying Like It’s 1989

Commercial lending is a crazy business right now. There is far too much capital sloshing around the economy, driving down costs to borrowers and making it hard for lenders to get paid for the riskiness of the loans they extend. Pricing is so disconnected from risk, in fact, that it’s common for bankers to refer to commercial lending as “a loss leader.” Really? All that work fielding loans,...

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David O'Connell