Like all businesses, lenders are facing tremendous change and uncertainty in the face of the COVID-19 crisis.
Since vulnerability to credit continues to be the prime risk factor for the financial industry worldwide, lenders should take special initiatives in strategizing comprehensive measures to identify, monitor, and control the inherent risks in lending as best as they can.
Is your Lending business struggling to optimize credit risk?
Here firms should be geared to address two facets of credit management
- customers unique financing needs
- business profitability risks.
This Whitepaper talks about 3 quick tips that Lenders can directly implement in your business to optimize credit management and enhance business performance.
These tips enable lenders to accelerate credit origination and customize credit lines while tracking global business exposures in real-time and mitigating business risks.
Check out our Whitepaper to get an idea on how to utilize technology to optimize your credit risk management.
Is your Lending business struggling to optimize credit risk?
Here firms should be geared to address two facets of credit management
customers unique financing needs business profitability risks.
This Whitepaper talks about 3 quick tips that Lenders can directly implement in your business to optimize credit management and enhance business performance.
These tips enable lenders to accelerate credit origination and customize credit lines while tracking global business exposures in real-time and mitigating business risks.
Check out our Whitepaper to get an idea on how to utilize technology to optimize your credit risk management.
Over the years, an individual’s or even an organization’s creditworthiness is defined by their credit score. A borrower’s traditional data (e.g. credit history, credit utilization, etc.) is usually the only factor considered by credit scoring systems to evaluate their creditworthiness. The problem with this system is that a significant part of the population has an insufficient or non-existent credit history – making them credit-invisible. Alternative data
So, how can lenders tackle the situation of rejecting the application of more than 40% of their borrowers who are credit-invisible?
Solution is : Connecting to the right alternative data
To provide credit access to a wider audience and achieve financial inclusion, lenders must consider a different approach to confirm a borrower’s creditworthiness. This is where ALTERNATIVE DATA comes in.
Check out our Whitepaper to know more about how external data can revive lending business.
