General Data Protection Regulation (GDPR) goes into effect on May 25, 2018. That’s just three short months away, and most companies say they aren’t ready. According to survey results published by Ovum, two-thirds of global companies believe they’ll need to change their business strategy to conform to new security guidelines. And half the businesses governed by GDPR believe they’ll be fined for non-compliance. The penalties are harsh. The fine for a serious data breach could be as high as 4% of annual global turnover, or €20 million, whichever is greater.
GDPR is one of the reasons Gartner, Inc. predicts corporate spending on information security will rise to $93 billion in 2018.Read more »
This article examines the perfect combination of automated decisioning with advanced analytics and the human interaction. Let’s start with a simple brainteaser. Take a look at this picture: There is a set of four cards lying on a table. Your task is to verify the rule: “If there’s a vowel written on one side of the card, then an even number is on the other side.” Identify which card(s) you need to turn to check the validity of this rule.Read more »
There’s a changing of the guard, but it’s not at the palace. Millennials are pushing Baby Boomers out of the top spot for most coveted consumer demographic as this latter group ages and shrinks in size.Read more »
This is the second part of our outlook for the upcoming year in lending. In the first part we have discussed constantly changing regulations, regulatory sandbox, and improving customer journey. Now it is time to talk about data-driven decisions and cybesecurity.Read more »
There’s an old Chinese curse, “May you live in interesting times.”
2018 is shaping up to be an interesting year for the lending industry, especially when we consider the uncertainty surrounding political environments, tax reforms, and potential new regulations. At Turnkey Lender we’re a glass half full group of people. So when we balance regulatory chaos on the one hand with tremendous untapped fintech innovation on the other hand — it’s easy to be optimistic about the future of lending.Read more »
Sun Tzu has said: Speed is the essence of war.
The ability to make wise decisions swiftly will place you well ahead of your competitors. With smart automation of the decision flow you will eclipse competitors.Read more »
The roller coaster ride called Payday Lending promises some all new twists and turns in 2018 as the legislators and the courts try to sort out the new payday rules. When will the dust settle? Will the outcome leave the payday industry in crisis? Or create new opportunities for savvy lenders who understand how to leverage fintech resources to maximize operational efficiencies and portfolio yield?Read more »