Moving beyond the status quo of lending

Borrowing money is linked to the biggest events of our lives – everything from the honeymoon of your dreams to opening a small business . This makes it one of the most important customer journeys out there .

But actually getting a loan is often a frustrating experience . Lending is one of the least digitized services in banking and usually involves a tedious application experience , as well as a lengthy wait time . This is mainly due to the inherent credit risk involved , which typically requires review by multiple departments , as well as multiple steps and complex workflows .

And the financial institutions that update their lending customer experience ? In many cases , they simply retain the cumbersome steps and requirements from their past , ensuring the new

journeys are nothing but a digital version of the same old story . But customers aren ’ t buying it anymore , after being spoiled by the instant gratification of embedded players like Klarna or Afterpay . They deserve better , and they know it .

Creating a streamlined , automated digital lending process

With all the potential pitfalls out there , it ’ s easy to understand why loan origination has yet to undergo a digital “ revolution ” like other processes such as account opening . But make no mistake , an end-to-end , streamlined , automated digital lending process is more than just achievable – it ’ s the way of the future . And your customers want it sooner , rather than later , or they ’ ll vote with their feet and head for the door . That ’ s why it ’ s critical to start modernizing your lending process , and in this guide , you ’ ll find out how . �

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4 TIPS FOR MODERNIZING YOUR LOAN ORIGINATION JOURNEYS

How to digitize lending : 4 tips for modernizing your loan origination journeys

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