Use Case: Mobile-First, Digital Lending
A mobile-first and digital strategy should be top of mind for any financial institution. With more consumers looking for new ways to complete tasks from the palm of their hand and outside the branch, banks and credit unions should provide a wide range of on-the-go services to their account holders. Unsurprisingly, digital lending capabilities are in high demand. Credit Union Times noted “online loan application/origination” as one of the top five reasons consumers would consider switching institutions.
As mobile and digital usage continues to rise, financial institutions must adopt best practices to simplify the application process, providing quick and timely decisions borrowers expect. Prosper Analytics reports a 16% increase in digital banking usage since 2018, with the total number of online and mobile banking users projected to exceed 3.6 billion by 2024.
Isn’t it time your institution looks to digital lending capabilities to satisfy borrower and lender demands?