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Sunday, November 18, 2018

Digital Credit Monitoring Key to Digital Lending Success

As digital lending technology grows in use to profitably provide loans to small businesses and consumers, credit monitoring is a key.  While many are automating the front-end loan process, digital credit monitoring of new and existing loans can have the biggest profitability and efficiency impact in using digital technology.  Prior to digital technology, our clients report spending hours a week monitoring existing small business loans which can be fully automated with our digital lending technology.

About 40% of business loan relationships are under $50k, and automated and digital monitoring is required to profitably serve these relationships.  Automated measurement of owner-guarantor credit, revenue and deposit activity, transaction activity including NSFs and loan usage and activity is provided for exception analysis and immediate reporting.  This saves officers and portfolio managers time so they can focus on acquiring new customers.

For more information on how RCGILTNER digital technology incorporates ongoing credit monitoring into our digital lending technology, contact us or visit our website.

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