Process acceleration key as online lending rises [Video]
Digitization is happening fast in lending. The global market for digital lending solutions was valued at almost one-point-eight billion dollars in 2016. That figure will grow to nearly eighty-three-point-five billion dollars by 2025. This expansion is particularly evident in small business lending, where digital services are gaining ground quickly.
Regional banks and credit unions have an opportunity to take advantage of this growth. While they can't afford to build their own systems, modular risk analytics solutions make it easier to move into the digital lending space without as much initial investment.
GDS Link makes risk analytics applicable in small banking settings through a broad network of data sources and a technological model that keeps costs down while driving process efficiencies that fuel automation.