Underwriting is a critical phase in financial institutions that involves assessing the risk associated with offering financial products, such as …
HOW CREDIT RISK MANAGEMENT TECHNOLOGY BOOSTS APPROVAL RATES
Regardless of the economic climate, risk management remains an important factor for lenders to consider during the approval process. Shifting …
CREDIT UNDERWRITING FRAMEWORK: KEY COMPONENTS TO CONSIDER
A well-defined credit underwriting framework is essential for responsible lending and risk management. To meet the challenges of an ever-changing …
HOW TO IMPROVE OPERATIONAL EFFICIENCY IN THE BANKING SECTOR
Though there was a recent uptick, U.S. vehicle sales dipped at the end of 2023. Combined with the still-recovering auto …
CREDIT UNDERWRITING USING AI: WHAT TO EXPECT
In the financial industry, lenders use credit underwriting to assess the creditworthiness of borrowers. Advances in artificial intelligence (AI) make …
DIGITAL ORIGINATION: 8 BENEFITS TO SPEED UP YOUR APPROVAL PROCESS
Information technology (IT) has transformed all aspects of the lending sector, streamlining processes to benefit both lenders and borrowers. Banks, credit unions, and other lending institutions can now offer their customers additional services while making their operations more efficient.
LOAN APPROVAL PREDICTION USING MACHINE LEARNING
Harnessing machine learning models for loan approval prediction is on the cutting edge of lending technology. These models can learn …
LOAN STACKING: 8 FRAUD PREVENTION STRATEGIES
Loan applications are often sent to multiple lenders simultaneously. The action is called loan stacking, and it can help address a legitimate need for quick funding, or to perpetrate a scam that brings quick funding with no intent of complete repayment.
COMMUNITY BANK TECHNOLOGY TRENDS FOR 2024
Community banks are unlike any other financial institution. They truly understand the individual needs of small businesses and the community …
LOAN PORTFOLIO RISK ASSESSMENT: A GUIDE FOR LENDERS
Lenders face an uncertain financial market in a constantly changing global economy. To negotiate this dynamic milieu, lenders need to …
CREDIT OPERATIONS IMPROVEMENT IDEAS FOR BANKS & CREDIT UNIONS
Banks and credit unions face economic uncertainty, evolving regulatory requirements, and technological disruptions in their credit operations. Credit risk assessment …
HOW TO PREVENT LOAN DELINQUENCY: 10 STRATEGIES FOR LENDERS
Auto loan delinquency rates have reached their highest levels since the 2008 recession, according to a report by S&P and …
