Loans are one of the major revenue sources for any financial institution(FI) but equally involves significant risk. Millions of dollars are written off as bad debts each year which directly impacts banks’ bottom-line and in turn, sways the confidence of the shareholders in a major way. The loan origination to the approval process is very arduous, involves both human & IT intervention, is heavily error-prone, expensive, and not to forget time-consuming. Switching cost for potential borrowers is quite low while traditional FI’s face fierce competition from digital-only FIs’ who are nimble, customer-centric and convenient for users.
How can Banks bring agility to the Loan origination process without increasing the exposure to risk ?
In this webinar, we will learn how any FI can build an end-to-end solution for loan origination journey powered by apps, robust workflows and our proprietary AI bolt-ons. We will cover :