Lending simplified using Chatbot-your AI-powered virtual assistant
“According to The Financial Brand, AI can save the banking industry more than USD 1 trillion by 2030. And the rise of bots is playing a key role here”. Technology is shattering a long-held need to talk to someone before you make a financial decision or before you apply for a loan. However, as financial […]
Unlock the power of Credit decision API for a breakthrough in your Lending!
With the pandemic catalyzing the need for digital lending and the percentage of bad loans increasing, API has become more indispensable than ever before in the Lending Industry! API (Application Programming Interface), the technology under the hood which connects one or more applications to communicate and exchange the data in real-time, has a big role […]
Unlock the power of API in your lending business.
Monthly Newsletter | Sep 2021 | Issue 114 Featuring Focus On Unlock the power of API for a breakthrough in your Lending business! With the pandemic catalyzing the need for digital lending and the percentage of bad loans increasing, API has become more indispensable than ever before in the Lending Industry! API (Application […]
How secure is your Credit Union from third-party frauds?
Third-party frauds has been on the financial industry’s radar throughout 2020, with account takeover and account opening fraud representing high opportunities for risk. Today more and more personally identifiable information is available on the dark web due to data breaches and phishing scams. COVID-19 has created both opportunity—increased online presence and interaction—and need—in the form […]
Tools & Technology: Digital Impact on Accounting
In this write-up, I will be continuing on the digital impact of accounting and discuss the different technologies that are at the forefront of accounting. If you have not read my first post about Digital Impact of Accounting you can read it here “ In this article, the focus will be to look at the following […]
How to improve Customer loyalty in lending – 5 steps to consider!
Being in a competitive industry you’re smart to implement emerging technologies to reduce operational and customer acquisition costs. But, do you know what’s even smarter? Knowing customer is the most valuable asset, and firms should find ways to improve customer loyalty in Lending and strengthen it. Unfortunately, many firms across the globe, often aren’t putting […]
Think Big, Start Small: Journey to an Intelligent Enterprise
Covid-19 has significantly disrupted working practices across all industries. The pandemic has created an imperative to fundamentally reimagine the nature of work, workforce, and business processes. Technology continues to grow by leaps and bounds, but business processes don’t always keep up—and companies who fall behind pay a heavy price in lost profits, productivity, and value. […]
Managing Covid-19 impact on Credit Risk Management
The COVID-19 pandemic has created uncertainty regarding the future of the economy, and its scale of impact will depend on the intensity and duration of the underlying public health crisis. Pandemic has triggered an extraordinary challenge across all sectors of the economy, impacting banking functions ─ particularly credit risk modeling. To address this, financial institutions […]
Data Modeling 101: What is Data Modeling?
There are 2.5 quintillion bytes of data created each day at our current pace: not only is there more data, but there are more scattered data sources. But to make data usable, we need to consider how the data are presented to end-users and how quickly users can answer their questions. The value of […]
How can your Credit Union increase revenue through automated underwriting?
High level of approved not-funded applications. Large volumes of manual reviews. inconsistent decisions. inability to meet real time demands. Do these sound familiar to you? These challenges are familiar with manual underwriting systems and process, and can negatively affect your loan portfolio. Automated underwriting is the answer to solve many of these challenges. Automated underwriting […]
