The new lending paradigm: How 3 key technologies are capturing the lending market (VB Live)

New lending technologies are transforming the borrowing process and we’re now seeing the retail lending space become a key battleground between traditional financial service providers and more nimble fintech companies. Join leaders from Kabbage, Herio Capital, Indus Insights, and Envestnet | Yodlee to get a deeper understanding of the innovations that are winning over consumers and businesses that expect decisions in real-time.

Register here for free.

It was only eight years ago that the retail and small business lending market were crippled by the global financial crisis, exposing longtime internal inefficiencies for many financial firms and inflicting them with huge losses. While the path to recovery has been a slow one, today’s outlook on the lending market is arguably brighter than ever.

Retail lenders are confronting the outdated and labor-intensive methods of loan processing through three game-changing technologies: online loan origination, mobile applications, and predictive analytics based on alternative data such as consumer transactions. All of this means that loan decisions are becoming increasingly automated through the use of sophisticated decisioning technology. What used to take weeks can now happen in a matter of minutes.

But this technology also translates into massive gains for consumers providing them with enhanced experiences that better capture their needs. The industry is moving toward developing a single, unified view of the customer – incorporating personal, transactional, application, and product-selection data collected from all interactions with the financial institution – and using this to perform rich analytics and needs assessments for individual borrowers.

And once companies have this valuable data in hand, the task of cross-selling other products at key decision points during the loan application process – for example, credit cards or insurance products – becomes far more laser-focused and effective.

Given todays’ consumer expectations, there really is no turning back. Today’s borrowers, whether consumer or small business, expect to have real-time pricing information based on real-time data available at the click of a mouse. They expect an intuitive, simplified application process, whether it’s delivered in person or online.

The takeaway from all this: If market lenders wish to capture market share and strengthen customer relationships, they must be fully versed in the latest technological trends and their impact on the industry. Join our panel of industry leaders from Kabbage, Herio Capital, Indus Insights, and Envestnet | Yodlee who will dive into the trends and opportunities emerging from the online lenders’ market and how you can be a part of it.

Don’t miss out!

Register here for free.

In this VB Live event you’ll:

• Get insight into the trends and opportunities driving change in the lending and credit risk management industries
• Explore more accurate predictive ratings models based on alternative data sets
• Learn how to improve credit decisions, collections, and portfolio management using new technologies and data analytics

Speakers:

• Terry McKeown, Practice Manager, Credit Analytics, Envestnet | Yodlee
• Spencer Robinson, Head of Strategy, Kabbage
• Sherif Hassan, Founder and CEO, Herio Capital
• Saurabh Sharma, Founder and CEO, Indus Insights
• Evan Schuman, Moderator, VentureBeat

This VB Live event is sponsored by Envestnet | Yodlee.