Advancements in seamless digital experiences and open data ecosystems are unlocking new possibilities for customers.
Expanding deposits is key to a bank’s success, and new channels are emerging to obtain retail deposits.
Companies founded in the smartphone era are reshaping how applicants can obtain small loans and how a first-time home buyer can be approved for a mortgage. Extensive manual processes to approve a loan that can stretch for weeks can now be simplified into minutes by utilizing cloud-based automation.
Banks that embrace the distributed model for loan growth and concurrently make strategic choices to enhance the direct experience for loan processing will be in formidable positions to achieve financial targets.
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