10 Easy Steps to Have a Completely Digital Loan Origination with Streamlined Customer Experience
TurnKey Lender conducted a lending industry survey. Among other insights learned, it’s evident that 76.4% of creditors are focusing their digital automation efforts on loan origination. Why is that a focus even before COVID-19 and how to be a savvy lender and put the customer experience above all else will be the focus in these […]
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?
Credit Scoring in the New Economic Reality – How AI Helps Make Better Decisions Much Faster
Your company’s lending program is only as good as its credit scoring. More than any other non-macro factor, how — and how deeply — your company assesses prospective borrowers will determine the size and profitability of its lending program.
The Power of Automating and Digitalizing Your Credit-Risk Management
In Europe and North America, market-based credit-risk indicators suggest a robust “repayment recovery” is underway, with models that gauge default possibilities nearing pre-pandemic levels as of mid-June 2021, and signs of smooth sailing well into 2022. But credit-rating agency Standard and Poor’s warns that conventional risk-assessment metrics may not be adequate for particular market segments. […]
Ten Blockbuster Reasons You Need an Automated Solution for Commercial Underwriting
In a worldwide rush for greater efficiency in financial transactions, automated underwriting stands out for its breadth of application and for acting as a catalyst for increasing competition between online and traditional lenders. Though we’re focused here on its role in consumer and middle-market B2B lending, its impact has been felt in financial segments as […]
Forbes Council: How AI equips lenders to avoid Covid-era pitfalls
Elena Ionenko, co-founder and COO at TurnKey Lender, shares her insight into real-life applications of AI in lending in a new Forbes Council piece: The traditional approach to loan-portfolio management puts collections and overall performance on one side, and origination on the other, with decisions that should be closely coordinated made by separate departments, often […]
Alternative Credit Scoring for Non-Traditional Lenders in Canada
The Bank of Canada recently rained on hopes for a quick recovery from the economic impacts of the country’s coronavirus slowdown — a hope nurtured, many thought, by signs of economic resilience over the summer. Alas, late in October, the Canadian central bank issued a Monetary Policy Report suggesting that hard times will continue, perhaps all the way through […]
Open Banking As The Permanent Disruptor of Lending
Open banking changes everything “Open banking” is a financial-information exchange methodology and a source of innovation that’s transforming banking as we know it. It gives third-party financial-service developers and providers permission-based access to customers’ financial data from financial institutions via “application programming interfaces,” or APIs. In plainer terms, open banking has the potential to change […]
Seven Ways to Tell if an LOS Provider is Right for You
With hope for a quick economic recovery from coronavirus lockdowns seemingly dashed by the contagion’s resurgence around the globe, financial-service firms, retailers, and business-to-business providers are looking with renewed intensity for adaptations to the pandemic and nascent post-pandemic protocols. For some businesses, COVID-conscious office layouts, plexiglass partitions, and staggered shifts have come into view as components of […]
Forbes Council: How To Approach Business Creditworthiness Assessment During A Crisis-Fueled Recession
A new Forbes article by Elena Ionenko, Head of Business Development at TurnKey Lender: It’s not clear whether Congress will trigger an additional round of stimulus to counter the economic effects of the novel coronavirus pandemic; stimulus that has included government-guaranteed lending to businesses. What is clear, according to definitive new findings, is that the […]
Credit Scoring in the New Economic Reality – How AI Helps Make Better Decisions Much Faster
Your company’s lending program is only as good as its credit scoring. More than any other non-macro factor, how — and how deeply — your company assesses prospective borrowers will determine the size and profitability of its lending program.
How to Make Decisions on Loan Applications with TurnKey Lender
Lending automation software vendors like to say that their credit-decisioning process is intuitive and quick. Here at TurnKey Lender, we prefer to show it.
