BLOGS

Insights into Modern Lending

 

Loan underwriting automation speeds loan approvals
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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Community banks understand the lending needs of individuals and small businesses
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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Key loan origination platform features produce better lending results
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 approval prediction using machine learning could help quickly find creditworthy applicants
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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Underwriting compliance ensures only compliant loans are approved
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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Representation of how the loan origination process is being reshaped by technology
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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Representation of loan origination automation benefits
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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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 events that influence the global economy, however – like political ...
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Management discussing account takeover fraud prevention
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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Streamlining loan servicing operations
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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Graphic depicting how to improve your lending business
Though there was a recent uptick, U.S. vehicle sales dipped at the end of 2023. Combined with the still-recovering auto components supply chain and a disruptive UAW strike, lenders are ...
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Underwriting compliance ensures only compliant loans are approved
In the financial industry, lenders use credit underwriting to assess the creditworthiness of borrowers. Advances in artificial intelligence (AI) make it possible to enhance the efficiency, accuracy, and speed of ...
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