Can a Bank Quickly Streamline Loan Underwriting With the Help of Fintech?
[vc_row][vc_column][vc_column_text]Read time: 5 minutes [/vc_column_text][vc_column_text] Introduction Manual underwriting processes make typical commercial loans (especially complex ones) extremely time-consuming for community banks and credit unions to analyze and underwrite. Financial institutions and lenders that use digital technology and tools, supported by risk assessments and artificial intelligence (AI), can process loans much faster and more efficiently. Companies […]
6 Ways a Bank Can Ensure an Exceptional Client Experience by Using AI and Blockchain
[vc_row][vc_column][vc_column_text]Read time: 7 minutes [/vc_column_text][vc_single_image image=”9583″ img_size=”large” alignment=”center”][vc_column_text] Introduction Customer satisfaction is critical for traditional brick and mortar banks to justify their presence and differentiate themselves from dozens of challenger banks and lenders emerging online. Although all banks have tomes on “policies” framed on how to improve customer experience, yet the low Net Promoter Score […]
MonJa's Digital Banking and Lending Monthly Roundup | April 2019
[vc_row][vc_column][vc_column_text]6 Minutes Read MonJa’s Digital Banking and Lending Monthly Roundup – Why Subscribe? Digital banking and lending is evolving rapidly. Recent fintech-banking partnerships and innovation in technology with the introduction of AI, ML and blockchain herald a new era in lending. Fintech’s are changing the competitive ecosystem, empowering lenders to process loans faster and smarter. […]
MonJa's Digital Banking and Lending Monthly Roundup | March 2019
[vc_row][vc_column][vc_column_text]6 Minutes Read MonJa’s Digital Banking and Lending Monthly Roundup – Why Subscribe? Digital banking and lending is evolving rapidly. Recent fintech-banking partnerships and innovation in technology with the introduction of AI, ML and blockchain herald a new era in lending. Fintech’s are changing the competitive ecosystem, empowering lenders to process loans faster and smarter. […]
MonJa's Digital Banking and Lending Monthly Roundup | February 2019
[vc_row][vc_column][vc_column_text] MonJa’s Digital Banking and Lending Monthly Roundup – Why Subscribe? Digital banking and lending is evolving rapidly. Recent fintech-banking partnerships and innovation in technology with the introduction of AI, ML and blockchain herald a new era in lending. Fintech’s are changing the competitive ecosystem, empowering lenders to process loans faster and smarter. In a […]
Small Business Lending: The Profit Puzzle Facing Commercial Banks
[vc_row][vc_column][vc_column_text]8 Minutes Read. Small businesses play a critical role in the American economy. They employ half of the private sector workforce and have created approximately 60% of the new jobs in the US since 1995. Access to credit is essential to the health of small businesses. It helps small firms maintain cash flow, bring on […]
Planning Your Journey To Digitization – A Guide for Banks
[vc_row][vc_column][vc_column_text]4 Minutes Read. Digital solutions are opening opportunities for financial institutions in small business lending and other services. Specifically, automation boosts process efficiency, reducing costs while raising productivity. For most banks, a third-party provider is the most practical source for small business lending software solutions. In order to successfully integrate a digital lending solution, your […]
How To Create The Ideal Millennial Bank
[vc_row][vc_column][vc_column_text]4 Minutes Read. How to Create the Ideal Millennial Bank Millennials, or the generation born between 1980 and 2000, are an economic force of almost unimaginable strength. They are the largest generation in American history, and by 2022 will make up more than 40 percent of the country’s workforce. They already account for $1.3 trillion […]
Return on Investment on Technology: A Lender Perspective
[vc_row][vc_column][vc_column_text]7 Minutes Read. For the traditional lender, the increase in digital-only lenders has made the demand for traditional loans quite sparse. Digitalization has permeated the consumer and small business loan market. With new regulatory provisions such as the OCC banking charter to digital-only banks, applying for loans digitally is rapidly becoming the norm. As such, […]
Data Security in Digital Lending Space
[vc_row][vc_column][vc_column_text]4 Minutes Read. The Equifax data breach in 2017 caused a significant data loss for more than 145 million people in the U.S., U.K. and Canada. Cybersecurity has become a top priority for financial institutions around the globe, particularly in the digital lending. The Equifax incident was considered a wake-up call for the industry. But even […]