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 […]
Digital Lending and Artificial Intelligence
[vc_row][vc_column][vc_column_text]3 Minutes Read. Artificial intelligence (AI) is expanding rapidly in the fintech industry. In particular, AI has largely affected digital lending. By 2020, as much as 5 percent of all of economic transactions will be handled by autonomous software, including loan transactions. By applying machine learning to collected borrower data, software solutions can approve or […]
The Future of Digital Lending Innovation
[vc_row][vc_column][vc_column_text]6 Minutes Read. Digital Lending Innovation is revolutionizing business in the financial sector. Going digital has helped many banks and other lenders streamline processes and improve the quality of their services. This, in turn, has led to reduced costs and improved efficiency. Innovations in digital lending are constantly being developed, and the future for the […]
Lenders of the New Age: Incorporating Artificial Intelligence, Machine Learning and Blockchain Technology
[vc_row][vc_column][vc_column_text]12 Minutes Read. Although alternative digital lending is still in its infancy, it has made a major mark in the consumer and SMB lending industry. A survey conducted by American Banks Association claims that: the volume of loans originated by digital lending platforms will rise to USD 90 billion in 2020 in the US, constituting […]
Small Banks and Why They Need To Adapt To The Latest In Artificial Intelligence and Machine Learning
[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]Small banks and credit unions play an important role in the US financial system particularly in serving rural and small metropolitan areas. Why should they care about artificial intelligence and machine learning when their business with borrowers is based on personal relationships? Their essence is in relationships built with the community at the local level, […]