Demand for business loans continues to rise, especially when it comes to SME borrowers. On the other hand traditional funders like banks and credit unions continue to decline the majority of these applications. And they use a slow, paper-based process to come to their negative conclusion. This is good news for alternative lenders who can… Read more »
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… 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… Read more »
In the first part of the article we discussed how the Generation Z borrowers are changing the lending industry. Next, we would like to elaborate on how these demographic differences should change the way that lenders do business.
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.
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.
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… 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.
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… Read more »
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.