December 20176As reforms and regulations become stringent, traditional lenders feel the pressures of enhanced capital requirements and higher standards for ascertaining the creditworthiness. This has opened up a gap between lending supply and borrowing demand, creating an opportunity for alternative financing, which, a number of fintech firms have leveraged to launch offerings like crowdfunding, peer-to-peer lending, and direct lending.Traditional lending and leasing organizations are beginning to grasp the magnitude of the situation and are looking to transform their operations to stay at the forefront. While large enterprises still depend on traditional lending institutions, small businesses are turning to the convenience, speed of delivery, and superior customer experience of fintechs. Experts opine that balancing technology with the trust that banks have in the marketplace is the key to tackling the fintech challenge.Moreover, to attract and retain borrowers, particularly millennials, banks need to embrace technology and grow their partnerships. Machine learning, automation, data analytics, and smart contracts are proven to increase operational efficiency and enhance customer experience. It has become apparent that the millennial segment cannot be ignored even if an institution was founded for commercial lending. It is crucial to partner with technology providers that will enable access to this demographic or simply strategize to partner with millennials.As bank executives feel the need to adapt their processes faster to keep up with the changing lending trends and offer a more fintech-like experience, Banking CIO Outlook presents its Lending Management Technology Special Edition, featuring innovative solution providers and insights from industry thought leaders.We hope this edition is valuable in helping you reimagine your lending practices to maintain market leadership.Copyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 20 - 2017Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 December - 20 - 2017, Volume 03 - 09 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesT:510.402.1464LENDING MANAGEMENT TECHNOLOGY SPECIALCatherine Paulcatherine@bankingciooutlook.comVisualizerSudhin ThomasManaging EditorJames RobertsonThe New Lending ParadigmJames RobertsonManaging Editor editor@bankingciooutlook.comAaron PierceAlex D'SouzaAva GarciaEditorialBanu JohnCarolynn WaltersSandeepa Majumdar*All Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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