Lending Approval Process: Keeping Pace with Next Gen Borrowers, Part Two
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.
Artificial Intelligence Means Better Customer Retention for Lenders
Cracking open multiple data sources can also help lenders spot would-be borrowers worth lending to, even if they have scant credit histories. When you think about it, the key to customer retention is the “Golden Rule,” a maxim found in cultures around the world stretching clean back to ancient Sumer. In modern English, the saying […]
How Machine Learning is Used in the Lending Industry
Together, artificial intelligence, machine learning, and deep neural networks are a boon to businesses awash in data. Machine learning has flipped the script on traditional lending, allowing for more accurate and faster decisions by shifting traditional decision-making from analysis of individuals to analysis of trends and patterns. The result for lenders? More repeat business, and […]
Manufacturers and Retailers Can Take Control of Fees in Their POS-Financing Programs
The in-house approach doesn’t just give retailers a “say” in what fees their customers will pay, it gives them total control over them. In business, losing control means losing money. So if you’re thinking about providing point-of-sale, or POS, financing to increase your retail sales, you need to understand how taking control of fees can […]
Retailers Face Choices When It Comes to Point of Sale Lending
In outline, POS installment loans harken back to the store-credit and “layaway” plans that householders commonly used to fund big and not-so-big purchases in the 1950s and 1960s. Unsecured lending is booming, with point-of-sale, or POS, installment-financing at the forefront of this retail revolution. In turn, POS financing — which comprises a market worth more […]
9 Things SMEs Look for in a Digital Lender
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 […]
Unified Lending Management at the Turn of a Key
Retail Financing: Save Time and Money with AI-Powered Point-of-Sale Lending
The Challenges of Running an Online Lending Business
Does your practice need an in-house financing program?
SME Borrowers – Optimal Target Audience for Alternative Lenders
How to Face the Loan Decisioning Challenges of Today With Automation Solutions
To make it in today’s lending industry, your loan decisioning process has to be quick, low-risk, and accurate. It’s one of those crucial elements that either make or break a lending business. Decisioning can take days, rely on outdated rules, and scorecards or it can be powered by unorthodox data sources and analysis approaches and […]
