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Lending software blog

Will Your Lending Program be GDPR Compliant by May?

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…

Decision Automation: How To Augment Predictive Analytics with Human Intelligence

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…

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2018 Lending Outlook — Top 5 Trends, Part One

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…

2018: New Payday Rules, New Era for Savvy Lenders

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…

How to Choose the Right Lending Software
A men's finger pressing a computer keyboard blue button labeled 'lending'.

Based on decades of hands-on experience we’ve boiled the decision process down to these 8 key factors you’ll want to consider when choosing origination and servicing software. One that delivers long-term benefits to your operation. Read more…

Cyber Security, A Lender’s Greatest Risk
A silver steel padock with key sitting on top of a green and orange computer circuit board to represent enhanced cyber security.

According to the latest SEC Risk Alert (August 2017), “…cybersecurity is one of the greatest risks facing the financial services industry.

Their position won’t surprise anyone in the global lending arena, especially in light of Yahoo and Equifax. Yahoo has the dubious honor of holding both first place and second place on the list of worst data breaches. Equifax may rank further down the list; but their breach is more problematic, because the database includes social security number, home address, driver’s license number and credit score for more than half the population of the United States. And it’s the half of the population with financial accounts and a credit history. Read more…

Fintech Award Winners in Singapore

The Monetary Authority of Singapore and the Association of Banks in Singapore have awarded 10 fintech companies a total of more than one million Singapore dollars at the fintech awards. Read more…

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2018: New Payday Rules, New Era for Savvy Lenders

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