Technological innovation in auto lending has greatly enhanced customer experience in the sector. While many auto lenders have already automated their originations process, the servicing side often gets overlooked.
CAR LOAN MANAGEMENT SYSTEM (LMS) FOR LENDERS
Businesses are always looking to make their operations more efficient, and it’s no different for consumer lenders. Because of its significance early in the lending process, the introduction of technology often starts with loan origination.
LOAN ORIGINATION PROCESS EXPLAINED (AND HOW TO IMPROVE EFFICIENCY)
Businesses are always looking to make their operations more efficient, and it’s no different for consumer lenders. Because of its significance early in the lending process, the introduction of technology often starts with loan origination.
DIGITAL ORIGINATION SOLUTIONS – 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.
THE ONLY AUTO LOAN ORIGINATION SOFTWARE YOU WILL EVER NEED
Lenders who use a modern, cloud-based software solution have an advantage over competitors still using traditional paper processes or even legacy systems when it comes to auto loan originations.
TRUTH IN LENDING ACT FOR AUTO LOANS – EFFECTS ON LENDERS
Passed in 1968, the Truth in Lending Act encourages accuracy among consumer lenders by requiring they disclose certain terms when offering a loan. Modern lending platforms can support an auto lender’s compliance with this act and associated regulations.
LENDING RISK ANALYSIS DURING A FINANCIAL CRISIS: WHY TECHNOLOGY IS ESSENTIAL
High inflation not seen in decades, rising interest rates, continuing supply chain issues from China’s zero COVID policy, and the …
INDIRECT AUTO LENDING TRENDS IN 2023
The economic shutdown that occurred in early 2020 in the US due to the coronavirus pandemic reduced sales of new …
HOW AUTO LOAN SERVICING OUTSOURCING CAN BE MORE COST-EFFECTIVE
In-house processing was once one of the few effective options for banks, credit unions, and other lenders to manage their …
HOW DIGITAL LENDING IMPROVES THE CUSTOMER JOURNEY FOR BANKS
Bank services and processes have been largely digitized. These days, it’s not even necessary for a bank’s customers to visit …
