Is Reconciliation a major headache? Ease it with Automation.
Reconciliation at many firms remains a laborious, time-consuming, and risk-laden process, where employees are forced to hunt through piles of spreadsheets and tick off every transaction manually. This approach is inefficient and unsustainable, severely limiting firms’ ability to compete. Automation in reconciliation Is it time for a change? Streamline and Simplify with Automation Reconciliation can […]
Alleviating collection risk and elevating customer experience: Tips to Lenders
While financial enterprises have been in the digital race lately, the industry hasn’t been able to efficiently leverage technologies in default management and subsequently improve efficiency and customer experience. In the post COVID-19 world, loan delinquency has increased at an alarming rate. So, how lenders can focus on reducing delinquencies and loss due to charge […]
Digital Debt Collection for Mitigating Risks and Improving Customer Experience
Monthly Newsletter | Jan 2022 | Issue 116 Featuring Focus On Alleviating collection risk and elevating customer experience: Tips to Lenders While financial enterprises have been in the digital race lately, the industry hasn’t been able to efficiently leverage technologies in default management and subsequently improve efficiency and customer experience. In the post […]
Realizing the digital promise-building back better in a post COVID-19 world
COVID-19 has brought about a powerful shift in reality; in addition to the effects
How data can be used effectively to reshape lending?
Lending is one area where data is providing most revolutionary changes. Lenders are increasingly using data to aid the loan origination process, both for current customers and non-customer prospects. At most lending firms and credit unions, loan officers can electronically pull up customer information including any product history with the institution before approaching a customer. […]
Digitization in SMEs – Transforming the Finance Function
Digitization has been altering and redefining many business models and processes for some years now. Some future-focused organizations have recognized the importance of going digital. But many lag simply because change is not easily accepted with the masses. Disruptions can only be handled with change. In this article, we explore the various ways digitization in […]
eSignature – a comprehensive digital transaction for Credit Union members
According to Ombud’s 2013 report, Open Research: Signature Solutions, the “adoption of eSignature solutions has empowered visionary enterprises to lead their industries by streamlining entire business workflows into end-to-end digital processes.” Member service is the pillar of the Credit Union Industry. Credit Unions strive to make their services more efficient to their customers. At the same […]
Reengineer the power of data and analytics to make decisions
Monthly Newsletter | Nov 2021 | Issue 115 Featuring Focus On From Data to Insights: Reengineer the power of data and analytics to make strategic decisions The lending industry is data-intensive with massive graveyards of unused and unappreciated credit processing data. As lending firms and credit bureaus face increasing pressure to stay profitable, […]
DIGITAL TRANSFORMATION: Reshaping the future of finance and accounting
Digital transformation represents a key competitive opportunity, highlighting the fact that going digital is a top priority for everyone in every industry. All firms in all industries will eventually need to be finance and accounting empowered with the newest digital technology capability. BUT… Research shows that most firms spend less time on digital empowerment. Obsolete and traditional financial practices are still used. Key Question Why do most […]
Using AI to transform Credit Unions debt collection process
Credit Unions are enjoying a record increase in their membership of late. With rising customer base, the focus for these credit unions remains faster processing of loans along with providing better experience to their customer; but this heightens their overall exposure to delinquencies as well. Unfortunately, this concern has only been amplified by the economic […]
