BLOGS
Insights into Modern Lending
Modern loan origination software (LOS) is the key to flexible and successful lending. To attain the most profitability from their portfolios, lenders need an LOS that they can manage through
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The ease of committing fraud using online resources has made banking fraud detection necessary for loan origination.
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Loan originations play a crucial role in the lending process, requiring financial institutions to balance processing applications efficiently and making sound risk assessments. However, traditional loan origination systems have struggled
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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
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Unprecedented technological advances in the last decade or so have driven efficiency in the auto industry. Design, prototyping, manufacturing techniques, and innovations like voice recognition, built-in GPS, adaptive cruise control,
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Loan application fraud is becoming a significant problem for banks and lenders, jeopardizing financial stability and customer trust. For example, the auto lending loan industry experienced more than $8.1 billion
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The demands necessary to run an efficient, profitable lending operation must be balanced against compliance with constantly changing regulations. These lending regulations are included in legislation like the: Truth in
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Updated on 2/26/24 By leveraging modern technology, financial institutions can make daily interactions with their customers frictionless and effortless. Technology allows people to monitor investment accounts online or make deposits
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Underwriting is a critical phase in financial institutions that involves assessing the risk associated with offering financial products, such as loans and leases, to individuals or businesses. As part of
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Regardless of the economic climate, risk management remains an important factor for lenders to consider during the approval process. Shifting events that influence the global economy, however – like political
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A well-defined credit underwriting framework is essential for responsible lending and risk management. To meet the challenges of an ever-changing market, lenders must refine and adapt their credit underwriting frameworks
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In 2024, customer experience in the lending industry will be driven by technologies that reduce friction and improve customer satisfaction. With customer experience playing a significant role in financial decisions,
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