loan servicing platform community banks

ALTERNATIVE CREDIT DATA: MANAGING PORTFOLIO RISK

The defi Team defi INSIGHT

Lenders have long relied heavily on scores from the big three credit bureaus. However, the bureaus have recognized that alternative credit data improves lending decision quality and reveals new lending opportunities.

auto loan default statistics

AUTO LOAN DEFAULT STATISTICS 2020

The defi Team defi INSIGHT

According to the New York Fed, US subprime loans are going delinquent at rates unseen since the Great Recession. Auto loan delinquencies 90 or greater days past due increased 47 basis points year-over-year to 4.64% ($60.2 billion) of all outstanding auto loans and leases in Q2, 2019. That’s baffling, considering the comparatively strong economic climate, record low unemployment, and many unfilled job openings.

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BUSINESS PROCESS AUTOMATION FOR BANKING LOAN ORIGINATION

The defi Team Automation, defi INSIGHT

Business process automation has helped the banking industry bring efficiency to high-volume processes. It brings speed and accuracy to account openings and closures, credit card applications, and loan originations. Recent fintech innovations are transforming the loan origination process with lower processing costs, better quality, and consistency in lending decisions—and lower risk.

loan servicing software community bank small business

THE PROS AND CONS OF SELECTING LOS VENDORS BASED ON MARKET SHARE

The defi Team defi INSIGHT

Lenders looking for an LOS often start by checking loan origination system market share. That can reveal industry leaders and niche players. You’ll get a high-level overview of software functionality and capabilities, and you might get some insight into each vendor’s market strategy and focus. It’s not a bad approach, but it does have some pros and cons.

small business loan servicing solutions

4 MUST-HAVE LOAN ORIGINATION SYSTEM FEATURES FOR COMPETITIVE LENDERS

The defi Team defi INSIGHT

The lending industry is evolving. Quickly.

Innovative new loan origination system (LOS) features are helping lenders stay ahead, even in competitive industries like auto and real estate lending. Sophisticated technology takes the guesswork out of the loan structuring process, so lenders can make better decisions and assess risk accurately.

Illustrated graphic of maney and coins with an upwards arrow, loosely representing auto loan servicing for credit union portfolios

FINTECH DISRUPTION IN LENDING 2019

The defi Team defi INSIGHT

Mentioned in the context of a technology discussion, disruption invariably means innovation. The world of finance is undergoing disruption, and as financial services organizations evaluate and adopt the latest fintech innovations, both the organizations and their customers are realizing the benefits.