Resources

Digital Lending Platform Banks, credit unions, and alternative lenders are increasingly inundated with loan applications for a variety of purposes that range from home mortgages to business lines of credit. In 2020 alone, financial institutions reported over 22.7 million home loan applications under the Home Mortgage Disclosure Act. The number of mortgage applications is somewhat…

Lending has evolved significantly over the last several decades. Financial institutions have come a long way from 1974, when banks controlled the lending industry, holding 62% of the total loans, compared to 2020, when non-banks issued 68% of all mortgages in the U.S. The rise in non-bank lending has freed credit borrowers from the stranglehold…

The fintech market comprises a variety of industry segments including alternative lending and financing, digital investments and payments, and neobanking. The rising interest in investments among the public and the need for loans and insurance are the fundamental forces behind this immense growth surrounding the fintech lending explosion. These organizations aim to streamline the lending…

Automated Loan Decisioning Many financial institutions receive thousands of applications each day, depending on their size and the current health of the economy. A lending staff is responsible for processing these loan applications to determine who qualifies as a potentially good candidate. A loan application includes a variety of personal finance information that reflects the…

Just like any business, banks are typically concerned with improving their bottom line. The long-term success of banking institutions often relies on their ability to make sound financial decisions with the best information available. In addition, it’s equally important for banks to find ways to limit their risk exposure wherever possible to minimize potential losses…

Inflation and Credit Risk The global surge in inflation, caused by an unprecedented demand for certain goods, supply-chain disruptions, fiscal policies, warring nations, and other factors is affecting both businesses and individuals across the world — including banks and other financial institutions. High inflation rates significantly impact lending and can cause both positive and negative…

Credit risk management is the process by which lending institutions protect themselves from the ever-present risks of late payment and defaulted loans. Over the past few years, lending programs have been shifting their focus to new opportunities and resources that can help boost their performance, lower their risk profile, and enhance their decision-making when it…

This has become a common question aimed in my direction over the last couple of decades from family, friends, customers, banks, processors, merchants, clients, trade bodies, regulators, law enforcement, and the media as each has sought to determine whether a certain action, engagement, or experience would constitute a criminal offence. Many are expecting a binary…

Challenges & Risks In FinTech The banking industry used to be a synonym for trust, responsibility and security. They are the people, after all, that look after our finances and allow us to prudently enhance, and safely access, our wealth. Bank staff were historically considered to be individuals of the highest integrity; professional pillars of…

In today’s fluid environment, the need for organizations to transition away from manual processes and enable automated, instantaneous reporting has never been more important, to stay ahead.

Equifax, TransUnion, and Experian have been the industry cornerstones for lenders to access data in order to determine a borrower’s creditworthiness. Their standard credit attributes have woven their way into thousands of credit policies within financial services.  

Now more than ever, lenders must have the capacity to rapidly adapt to new situations. PricewaterhouseCoopers recently highlighted the need for lenders to mobilize their teams to quickly collect and act on information that will allow them to remain competitive.