From filling forms and negotiating a commercial loan to authenticating the borrower and routing activities, the traditional lending process remains inconsistent in terms of compliance and transparency. Amid the regulatory reforms and growing competition, it is important that banks address these challenges by leveraging opportunities offered by various fintechs.
Cloud computing is already being vastly utilized for its greater scalability, cost-effectiveness, and agility. There are also several other emerging lending technologies that offer improved automation, data analytics, cybersecurity, and machine learning to ensure enhanced lending management for banks. With the increase of regulatory inconsistencies, the use of technology to help businesses with regulatory and compliance management is crucial in assisting banks to manage risks in lending. Alongside big data, blockchain is another breakthrough technology that is enhancing the lending space, helping achieve transparency and risk analysis—restructuring their lending operations.
There have been revolutionary changes in the global lending market, with fintechs playing a significant role, compared to the traditional framework of banking systems. More and more banks are partnering with solution providers to help build digitized and streamlined platforms that meet the ever-evolving expectations of customers.
To help banks choose the right solution for lending management, a distinguished panel comprising CFOs, CEOs, CIOs, VCs, and analysts along with the Banking CIO Outlook editorial board has reviewed several companies that exhibit proven expertise in assisting banks with their lending management solutions. The companies featured in this issue have showcased their flair and extensive knowledge in the banking sector through their secure and cost-effective solutions that offer transparency and great agility.
We present to you Banking CIO Outlook’s Top 10 Lending Management Technology Solution Providers - 2017.