10-point checklist for choosing your new loan origination software in 2024
Companies spend months negotiating with LOS vendors to choose the infrastructure for their lending operations. But same as when picking a car, if you know what to look for, weeding out vendors who’ll turn out incompatible is immensely easier. Initial SaaS filtering criteria There are many loan origination systems. And most of them don’t meet […]
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 […]
10 Vital KPIs for Measuring the Value of Your Digital-Banking Operations in 2024
There’s no denying that Covid did to digitalization what no technology evangelist could. For several years prior to 2020, digital banking usage at PNC had increased at the steady rate of about a percentage point every quarter — until it went ballistic during the lockdown. It jumped from the beginning of the year where digital […]
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.
A Loan Management System Without Origination and Underwriting Doesn’t Cut It
For many organizations on the precipice of digital transformation, the thorniest parts of in-house lending are the steps known as “origination” and “underwriting.” Some may be tempted to add “loan management” — also called “loan servicing” and “loan collections” — to this shortlist, but insiders know the loan-management piece is pretty straightforward. Sure, handling schedules, […]
What TurnKey Lender platform has in store for the UK and Ireland
TurnKey Lender is one of the pioneers and industry leaders of digital lending automation globally. Over 50 million borrowers around the world work with traditional, alternative, and embedded creditors who use TurnKey Lender Platform to digitize all parts of their operations. In 2022, this leading lending solution is expanding into the UK and Ireland and […]
How to Start Offering Consumer Financing Online in 2023
As a business owner, you want to convert and retain as many clients as possible. And some of them won’t be able to purchase your product in one payment. To build meaningful relations with the client and keep the economy working, consumer financing options are now more critical (and intuitive) than ever. In the increasingly […]
What You Need to Know About In-House Customer Financing & 4 Business Types That Will Benefit From It in 2023
Throughout the history of lending, it has gone through several stages of democratization. The big banks used to have a monopoly on selling quality credit products and people who didn’t want to go to a pawnshop had no other choice but to try and qualify for an unlikely loan from a traditional institution. But things […]
Fintech pacesetter TurnKey Lender out to make smaller banks more competitive
TurnKey Lender is best known for its digital lending automation platform, an offering that equips organizations around the world to expend credit in traditional and alternative lending, in retail, B2B, and — well, really any business setting imaginable. But the financial-technology and banking-as-a-service (BaaS) pioneer also provides core banking systems to banks and credit unions, […]
A Look Under the Hood at TurnKey Lender’s Game-Changing Artificial Intelligence
In the realm of digital lending, artificial intelligence isn’t just an add-on, or something that’s conceptually nice to have but not really required. On the contrary, a high level of intelligent automation is an absolute must for digital finance, which empowers organizations of all sizes and kinds to make smart, risk-adjusted lending decisions without help […]
How to Launch and Grow a Peer-to-Peer Lending Business – 6 Critical Components
P2P lending isn’t a trend. It’s an entirely new delivery vehicle that’s here to stay. Borrowers have already pushed peer-to-peer loan volume close to the $1 trillion mark, but launching an infrastructure that supports investor/borrower matching can still be a complex undertaking. Alternative and digital lenders who understand online origination and payments processing are the […]
How retailers can provide customer financing and boost ROI
When a retailer decides to offer financing to its customers, it has a binary choice about implementation. It can either: Find a third party to provide the service, for which the business will pay a per-transaction fee (and possibly an additional monthly fee), or Find a software solution that allows the business to keep fees […]
