BLOGS
Insights into Modern Lending
Lenders are increasingly using digital loan origination systems (LOS). According to a recent survey of lenders, around three-quarters use digital channels to serve new and existing clients, and 73% prepare
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All lenders seek to reduce credit risk within their portfolios. While some still use manual risk assessment tools, portfolio management spreadsheets, and even good old-fashioned intuition to guide decision-making, savvy
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Alternative credit score companies provide a more complete picture of applicants
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Borrowers in the consumer lending process often face challenges, including complex application procedures, lengthy approval times, and a lack of transparency regarding loan terms and fees. Many borrowers struggle with
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It’s the last day of the month at an auto dealer. While the dealer’s numbers are good, they want one more deal to make it a record month. The loan
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To take full advantage of emerging opportunities, lenders need software that provides the user experience that today’s consumers expect and applies automation and innovative technologies to streamline the lease origination
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In the face of continued high interest rates, consumer lending is being transformed by several fast moving trends. Digital lending platforms are becoming the norm, offering enhanced convenience and quicker
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Technology has significantly impacted direct lending, transforming how lenders operate and serve borrowers. Direct lending refers to the process where lenders provide loans directly to borrowers without intermediaries like banks
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The loan origination market is experiencing growth, driven by factors like the increasing adoption of digital loan processing tools and increased demand from specific sectors. Market research suggests the global
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Lenders face several significant consumer lending challenges in 2024, including credit risk mitigation, fraud detection, and regulatory compliance. In addition, operational efficiency can be challenging because high costs and outdated
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Consumer lending technology is revolutionizing the future of lending by leveraging tools such as automation, cloud computing, and mobile apps. These technologies streamline loan approval processes, enhance risk assessment, and
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Current trends in the consumer lending experience are driven by digital transformation, personalization, and customer service. The shift towards online and mobile lending platforms is making loan applications more accessible
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