Resources

U.S. consumers are continuing to use their credit cards despite the economic slowdown. In the latest quarter, spending on Visa credit cards saw a 9.5% YoY increase, while MasterCard saw an even bigger jump of 14%. This growing trend outpaces inflation and is due to the enduring appeal of credit cards.

 In the digital era, personal lending products emerge daily from various banks, credit unions, and fintech companies. When it comes to the U.S. and Canadian markets, it is critical to understand the full credit lifecycle of lending and risk management to remain agile and competitive.  While the countries may share a border and many…

Improve Your Debt Collection Strategy and Understanding how to Help Customers in Financial Difficulty Understanding the challenges that come with customers experiencing financial difficulty is critical as a lender in the debt collection process. However, knowing the best course of action to take when collecting delayed payments may be difficult, and even more challenging is…

 There isn’t a period in the present day that we can equate to the COVID global pandemic and the effects that this era has had on the lending industry. Society was forced to isolate, everyone was left indoors, and not to mention that spending fell off a cliff. It was only natural from a…

Understanding the Different Types of Fraud to Protect Your Business Fraud exists in every industry and is no different than any other crime, where there has to be motivation, rationalization, and opportunity. There’s no question that every business is susceptible to it, mainly because there are so many ways scammers can attack your company. Since…

 Bias may present itself in a variety of ways within lending. When assessing biases, two issues frequently arise: Was someone treated differently because of who they are? Or did a sincere goal activity end as being harmful to one group? A recent wave of technological innovation has enabled lenders to better comprehend how distinct…

 Lenders within both consumer and SMB rely on data from a multitude of third-party sources to make informed credit decisions. Understanding a borrower’s income with a high degree of certainty is critical in terms of the borrower’s ability to repay. Today, we see income verification solutions employed across a variety of different applications, whether…

 By end of this year, fraud is projected to cost U.S. businesses roughly $2.5 Billion, with some research suggesting that figure could rise as high as $5 Billion by 2025. There’s no doubt that every business is vulnerable to fraud, due largely to the numerous ways in which scammers can attack your organization. So…

 As much as lending has changed in the last few years, its  fundamental tenet—putting the customer at the center of every choice—remains unchanged. Nevertheless, the last few years have brought an abundance of changes fueled by digitisation and the adoption of big data.

 Shortly after the 2008 financial crisis, a new phrase emerged, and we were quickly introduced to the thriving “Fintech” industry. When it comes to financial inclusion, the more approachable you are, the more success you will have.

 There is little doubt that having to deal with a global pandemic for a few years has altered the behaviors of both consumers and lenders.

 You’re tuning in and syncing up with The Lending Link, GDS Link’s brand new industry podcast designed for the modern-day lender.