Competition for online spend is fierce and the race is on for simple, ‘one-click’ online payments. If an online checkout is unfriendly, time-consuming or complicated shoppers will abandon their purchases.
Retailers offering consumer credit options want to return accurate credit assessments quickly to give customers good service. How a flexible risk decisioning platform can help do this was the subject of our webinar with Lewis Group. The leading retailer has simplified its customer acquisition and maintenance processes in over 700 stores in South Africa.
The way credit scores are calculated could be set to change as new and novel ways of assessing ability to repay come to the fore.
The shopping phenomenon that is Black Friday is nearly upon us and snapping at its heels is the holiday season. Many consumers will look to spread the cost of their seasonal spending splurge. They’ll hope to secure a credit or lending decision simply and quickly. For merchants and lenders, satisfying this demand is all about fast and flexible risk decisioning and agile processes.
The complex, manual loan processes that bog down financial institutions and result in a poor commercial lending experience for customers was the subject of a recent Aite Group/Provenir webinar. Automation is held up as the antidote to the process pain points that are felt across teams responsible for orchestrating the end-to-end lending life cycle.
Financial technology could bridge the financing gap for small and medium enterprises (SMEs), a white paper from the World Economic Forum’s Global Agenda Council suggests.
To stay current in a competitive marketplace financial service providers need flexible workflow solutions that can be updated simply and that help the organisation improve its customer processes. As market and customer needs change they want something they can modify to remain relevant and competitive.
World Paper free Day (6th November) encourages businesses to reduce the amount of paper they generate. It’s difficult to imagine that in this day and age businesses still rely on hard copy. Yet that is still the case in many banking and financial institutions when it comes to processing credit and loan applications. Unfortunately, a reliance on paper creates silos in the workstream and is an obstacle to fast and efficient information sharing.