Providers Target Specific Segments in Digital Lending Landscape

An updated infographic of the digital lending marketplace has been published, and what really interests us is the picture of growing non-bank originators.  As the chart below shows, digital lending allows providers to build specific, tailored delivery systems for specific market segments.  The broad categories of the digital lenders can be seen below in the segments of consumer, small business, real estate, solar, education, medical and receivables.  Even within segments, however, the focus is more detailed, such as SoFi in consumer lending targeting consumers with high credit scores, SmartPay for retail purchase financing or PayOff for financial health.

Originators in Orchard’s Lendscape Infographic

Financial institution who today own the customer relationships are rapidly deploying their own digital lending solutions to serve their customers and attract new ones.  Low-cost, cloud-based technology allows FIs to compete with non-banks by designing digital lending services tailored by specific market segment for the fastest and best service.  The difference in this “purpose built” lending versus automating existing loan systems that serve all is illustrated below.  

For more information on how your organization can serve your customers with “fast and frictionless” digital lending with purpose-built technology, join us for our complimentary webinar on March 1, 2016.