The giant leap of the mobile technology and its associated applications indeed transformed our lives. Accessibility of all manners of smart products and services is now possible in just a click via advanced mobile technology. More number of enterprises are using the mobile workforce for increased productivity. Mobility has completely transformed the financial sector to a swift mode. But lending is an area which continued to be served by traditional methods. Only in recent years, mobile devices are being increasingly used by lending firms identifying it as the way forward for the business to integrate and deliver new and innovative business services more quickly.
Mobility offerings for lending sector
Loan Origination: Traditional loan origination process is arduous and time consuming with tiring paper works. But the advanced mobility solutions not only eliminate the application paperwork but also take care of documentation and credit assessments. Mobile application offers transparency to the process as well.
Customer relation: New age mobile apps are customer friendly as it removes the role of a consultant in the loan processing cycle. Here, customers could use the self-service mobile app directly and apply for loans right from their comfort. It also keeps the customer informed of the status of their loan application.
Mobility in credit scoring: Credit scoring can be accurately done using the advanced mobile technology. Mobile technology will evaluate the borrower’s ability, stability and intent to pay when processing their loan request.
Payment and collection: Payment and collection has become fully customer friendly with latest mobile techniques. Today’s tech savy customers can make repayment through the touch of a screen using their mobile phones.
Better risk management: Automated credit checking and measures for fraud prevention
Faster time to market: Launch innovative products faster with seamless legacy system integration.
Is your firm mobile friendly? If not, don’t think that you are too late to implement a mobile solution in your lending firm? There is still time to be out in front. Select the right mobile platform for your firm and customize it for various loan types. Mobility solutions provide convenience and simplicity. It will ensure a smooth application process and efficient use of member time.
How Insight Consultants can help you?
Insight Consultants specializes in digitizing the lending ecosystem. From general to specialized, prime to sub-prime, we have helped firms operating across the lending landscape reap the benefits of mobility. We provide 360-degree solutions starting with identifying the right mobile platform to integrating it with your process. So, if you are looking for ways to harness the power of mobilization or would just like to know more Contact Us
