Why Auto Dealers Should Consider Digitizing Their In-House Lending Programs
In-Depth Guide to Digital Transformation of a Bank
Even before the COVID-crisis and the overwhelming social distancing trend, traditional banks were forced to play catchup with nimble alternative and in-house lenders who offer a fully digital crediting process. Now, relying on clumsy legacy solutions and paper-based workflows is simply not sustainable. Large-scale lenders need to either embrace the digitalization of credit or they […]
How Much It Costs to Automate a Lending Business 2024
To get into the real lending game thirty years ago, one needed immense resources. And not just cash in store for funding the consumer or business borrowers, but also money for opening and maintaining offices and branches, originators, servicing managers, underwriters, collectors, analysts, etc. Even ten years ago, when FinTech craze was conquering the business […]
How to Choose the Right Lending Automation Software for Your Business
Traditional lending, with in-branch origination and manual paper-based processes, has collapsed with social distancing becoming the new norm. Now offering credit digitally is a matter of survival for lenders, not a nice-to-have. We surveyed 40+ decision-makers in the credit industry and even before the COVID crisis, 57.1% of lenders were actively working to start/continue the […]
10-Step Plan to Become a Digital Lender
Building a viable lending business is no easy task. But in recent years, the democratization of technology and the rise of numerous FinTech startups has led to a great lowering of entry barriers into the digital lending niche. With 82% of businesses failing due to cash flow issues, the lending market, especially that of digital […]
7 Artificial Intelligence Applications in Digital Lending
Many of the AI applications are still in the R&D phase, but many are already here and helping real businesses save money and streamline processes. But before we start looking at the specifics, let’s straighten up our vocabulary. Artificial Intelligence (AI) is quite a vague term. Feels like lately it’s used for marketing reasons far […]
Here’s How TurnKey Lender Helps You Save Operational Costs and Time (and Here’s How Much of Both)
Since entering the lending automation space in 2014, TurnKey Lender managed to become the industry standard by which the depth and quality of automation of a lending business can be measured. Some of the biggest benefits company’s clients boast include a significant portfolio growth, an increase in operational efficiency, and improvements in the clients’ lifetime […]
How Lending Automation Helps Make the World a Better Place
Like it or not, lending is one of the vehicles of progress. Thanks to lending, people get funding for their ideas, their entrepreneurial dreams, and business expansions, families get their first homes and a teenager gets their first car. And like all the other financial products and services, lending is evolving.
How Lending Automation Helps Make the World a Better Place
Like it or not, lending is one of the vehicles of progress. Thanks to lending, people get funding for their ideas, their entrepreneurial dreams, and business expansions, families get their first homes and a teenager gets their first car. And like all the other financial products and services, lending is evolving.
7 Artificial Intelligence Applications in Digital Lending
Digitalization leaves no industry untouched. In the last decades, lenders, traditional and alternative, have been on the lookout for new technologies to take them ahead of the competition. Software that would make credit decisioning and loan management safer, faster, and cheaper. Naturally, AI has been a focus for most.
How to process loan applications automatically and approve more of the right loans faster
Consumers choose speed and convenience over price, even when it comes to their finances. That’s why successful lenders strive to deliver instant approvals, and 1-day funds transfers. They’re training borrowers to expect quick action with every application. Can your lending operation approve loans at warp speed, without sacrificing credit quality?
9 Things SMEs Look for in a Commercial Lender in 2024
As lending niche entry barrier lowers due to the development of FinTech, competition grows. Big banks have established names and loyal client bases going for them, and alternative credit providers keep improving user experience, simplifying onboarding, and lowering interest rates. That leaves new lending market players in a tricky position where they have to compete […]
