With consumer expectations increasing, the use of artificial intelligence, machine learning and chatbots in Lending Industry has become a necessity. In a very competitive consumer lending space, overall digital customer experience gives an edge for any lender.
An important trait of any successful lending software is its ability to integrate with third parties and platforms to leverage the best-breed of services and solutions available in the Lending Ecosystem. The core operations of the lending portfolio can be managed by the loan management system while external data, information and services can be obtained from a range of offerings available in the marketplace of third-party providers through a seamless integration with the Loan Management System. The point is that lenders don’t need to spend their precious resources reinventing the wheel within services such as Lead acquisition, Lead Scoring and Decisioning, Payment Processing, E-Sign, Dialer for CRM, Secure Document Storage, E-mail, Messaging, Collections, Reporting etc.
If you have an online lending portfolio, your success highly depends on your website’s performance. Many lenders tend to dismiss the influence their website can have as their key focus could be on their existing customer base, leads from affiliates and leads from lead providers.