Based on our depth of knowledge and partnerships in the industry, this report explores seven key areas which lenders must address when planning for the new lending landscape beyond 2020:
Accelerating digital transformation
Improving operational efficiency
Better understanding credit risk
Increasing portfolio size
Improving ongoing visibility of portfolio
Increasing customer engagement
What are the key areas lenders should focus on past 2020?
In the next few years, we believe there will be a dramatic acceleration in the industry-wide shift from siloed data within small businesses to a connected ecosystem of unified financial data sources. Our report explores seven key areas which lenders must address in order to operate with confidence moving forward and capitalise on this sector-wide transformation:
- Digital transformation
- Operational Efficiency
- Credit Risk
- Portfolio Visibility
- Reducing Fraud
- Customer Engagement
- Portfolio Size
How can Codat help accelerate digital transformation?
Digital transformation is the integration of digital technology into all areas of business. Codat can help accelerate this by providing access to accurate, up-to-date and standardised data saving your customers considerable time and frustration, as well as ensuring a seamless application. We’ll give your customers control and confidence, improve their overall experience and reduce human errors.
How can Codat improve your customer engagement?
Codat can enable a more proactive relationship with your customers whereby you are able to offer suitable services and valuable tools, such as cashflow forecasting tools, based on an in-depth understanding of their needs.
Why does operational efficiency matter and how does Codat help?
Lack of efficiency holds back innovation and slows down time and money, as well as being a financial drain on the lender. Codat can help by streamlining the process of collecting borrower information by automating the pulling of data at set frequencies.
How can Codat increase your portfolio size?
Codat can increase your portfolio size by providing ongoing access to customer data allowing you to benefit from peace of mind, especially for loans that have traditionally been considered sub-prime.