Bank Industry News
Learn the latest Bank Industry news and information about Lendsys loan decisioning software
With over 5,000 charters and in the neighborhood of 35,000+ branches and distribution points covering every community in the US, why are we not dominating? Because we are all individually (not collaboratively) trying to reinvent the wheel. Here are a few thoughts on how we could reverse the non-collaborative trend and really get on track to dominate the US financial services “industry”.
After several years of steady loan growth in most consumer loan segments, most financial institutions have started to see loan originations beginning to level off and slow down. In light of stable and potentially continually decreasing interest rates from the Fed, and with CECL compliance in the wings, financial institutions need to be implementing processes that increase quality loan production with an eye towards being able to weather any potential economic downturn.
Automating your lending processes utilizing the power of technology can achieve huge gains in efficiency, as well as differentiation from your competition.