Since the mid-2000s, traditional lenders have been scrambling to keep up with the emergence of FinTech and other developing technologies. But how have alternative lenders changed expectations?
One: A key motivation in alternative lending has been to provide more ease and convenience for all financial transactions. Simply put, customers now expect this from all lenders.
Two: Digital-only banks have already become increasingly popular, and this trend will continue to grow as customers care less about face-to-face interactions and more about online account management.
And three: The Internet of Things continues to gain traction in all industries, meaning lenders will need to continually update security measures as the technology changes.
If you are considering updating your lending structure to include alternative practices, GDS Link can help guide you through the process to ensure an effective transition. Thanks for watching.
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