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Five Lending Trends to Watch in 2019 – 1 of 5

#1:  Cloud-Based Lending Platforms

Author: John Minor

 

As 2018 comes to an end, new technology and deeper market knowledge bring more opportunities than ever for lenders to stay on top of regulations changes and better position themselves for the upcoming year. If you are a lender looking to revamp your services, stay updated on this five-part series on top lending trends to watch for in 2019. In this first installment, lenders can learn about how moving to cloud-based platforms can drastically benefit their existing systems and better interact with their customers.

Cloud-based payment platforms help lenders fully exploit the proven technical capabilities of the cloud to enable a better lending experience for themselves and customers alike. While premise-based systems have been the norm, cloud-based platforms provide faster implementation and efficient system employment, allowing lenders to save both time and money. With a continuous stream of new functions and more frequent software updates, cloud-based platforms also allow lenders to constantly improve and enhance customers’ payment experiences to be increasingly intuitive and seamless.

These technical benefits also contribute to making it easier for consumers and collectors alike to complete and accept on-time payments. The cloud simultaneously simplifies the lending and payment acceptance process while also allowing customers to pay anywhere, anytime through onsite, mobile, and online options. A digitized experience replaces manual processes with secure and transparent automation; creating a greater sense of visibility has never been easier.

Learn more about how cloud-based lending platforms enable a better experience for lenders and their customers. View the on-demand webinar.