Articles

Turnkey Lender’s CEO is interviewed by Cloudways

Our friends at Cloudways, a managed cloud hosting platform, have conducted an interview with our CEO, Dmitry Voronenko. Read on to find out about more about our online lending software, the challenges of running an IT company, and about what inspires and drives our CEO. Read more…

SME Borrowers: Perfect Match for Alternative Lenders

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 leverage technology to approve far more loans with a faster, easier process that supports better credit decisions. Read more…

What I Want to Know about a Business Process

What should we understand and know when we try to describe a business process (requirements point of view)? In this article we discuss the main components: goals of the business process, participants, calculations, rules, restrictions for actions, results and success criterias. Read more…

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…

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…