Buy now pay later in the B2B space – what you need to know and how to get started
For the longest time, only B2C products and services had easy-to-use buy now pay later programs. Of course, B2B providers still offered their clients pay later options in the form of trade credit. But it wasn’t cheap or easy and very few could afford to run an in-house BNPL program given higher credit risks, management […]
What to Look for in Loan Management System for Consumer and Commercial Lending in 2024
Loan management software is enjoying broader uptake as digital technologies continue to take hold, opening new avenues for business development to a host of non-traditional lenders in B2C and B2B settings. Digital loan-management software is a system that automates every step in the life of a loan, from application through final repayment, and does so […]
Building an exceptional borrower UX as a digital lending business
Borrowers don’t want to meet you in person, and they don’t care about your office, your decor, or the quiet competence of your originators and underwriters. They just want loans, on good terms, and they want them fast. And to get loans fast, they know you have to apply. And the most efficient way to […]
Data enrichment is the secret sauce in digital lending
In describing financial technology, it’s easy to forget that “what it does” is more important than “how it works” for most people. With that in mind, we can promise that this will be an easy read to help you understand what data and data enrichment do in digital lending, and how they make life easier […]
Embedded lending revolution – preparing your business to finance clients in-house
Embedded lending as a concept is often buried in convoluted marketing explanations. When in reality, it’s nothing more than an installment consumer loan that a provider of goods or services is offering their client themselves instead of delegating it to a third-party lender. And with the vast majority of buy-now-pay-later programs, you don’t even need […]
ATMs Are Poised to Become a Compelling New Frontier for Digital Lending
Automated teller machines, ATMs for short, have been around since the early 1960s — and, strange to consider, the very first ones only made loans. But these everyday machines are poised to facilitate digital lending trends in an ever more connected world. Of course, ATMs are now known for dispensing cash from users’ savings or […]
Why Some Lenders Are Still Stuck Using Spreadsheets for Almost Everything
Odd as it may seem, many lenders still use spreadsheets and emails to manage entire loan portfolios. Despite a widespread push toward digitalization in banking services, some companies still cling to procedures they view as tried and true in the face of upheaval. Even lenders with clear and detailed plans for renovating their technology stacks […]
APIs, KPIs, and the Future of Embedded Finance
You can access a world of financial services from hundreds of companies if you have a working smartphone and access to applications. For example, continuing with well-known brands, you can receive a point-of-sale loan from Amazon, a checking account from Google, and a credit card from Apple. That’s only the tip of the iceberg. Payments, […]
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 […]
Five Myths Keeping Banks From Winning in a Transformed Financial-Service Landscape
Propelled by technological innovation and social-distancing strictures imposed by the coronavirus pandemic, the banking industry is in a state of rapid transformation. By 2026, nearly one in four top decision-makers in the financial-service industry expects “substantial” or “significant” industry transformation, according to Gartner, a US technology consultancy. In fact, one in five expect the industry […]
Digital Lending ROI: Positive Return on Technology Investment
Many lenders, especially credit unions and small local banks, lag behind when it comes to financial technology. It’s a short-sighted business strategy. Cost-benefit analysis shows a positive ROI when digital lending technology delivers a borrower-centric experience and drives operational efficiencies. Digital lenders earn incremental revenue from new accounts (especially Millennials who have a higher lifetime […]
Embedded Finance: Increase Your ROI and Customer Loyalty
There’s a revolution underway in how consumers and businesses pay for goods and services. The catalyst for this change is embedded finance, an innovation that makes lending a versatile and secure part of everyday commerce. This means financial services — including lending — can be offered to consumers as a routine part of making purchases. […]
