Writing Resources
Digitization a big revolution in the lending process Digitizing the lending landscape sounds like an unusual thing as lending was perceived to be an exercise so deep in physical signatures complex regulatory compliance endless documentation lengthy candidate assessment arduous risk profiling and manual labour But the digital bandwagon is redefining the current banking sector It s no longer an option it s the imperative In the current commercial lending market financial institutions are increasingly mindful of improving their practices in many areas to increase efficiency decision speed and productivity and to enhance their customer experience But the currently difficult market environment presents banks with major challenges to leverage growth potentials while at the same time increasing the efficiency of the bank organization Loan decisions are a highly complex field of action in this context The changing customer behaviour is another challenge the banks facing Retail customers increasingly demand simple and affordable bank products which do not require bank consultants and which can be quickly and conveniently purchased anywhere In this scenario the digital revolution in lending process emerged as a major response to many of these challenges
