Five Reasons Why Banks Must Modernize Their Credit Process
This informative webinar led by Kevin Begg, a former commercial banker who spent many years in traditional banking, explores five reasons why banks should consider technological solutions to their loan origination headaches.
This informative webinar led by Kevin Begg, a former commercial banker who spent many years in traditional banking, explores five reasons banks should consider technological solutions to their loan origination headaches. The webinar is valuable for anyone evaluating whether new origination technology will meet their needs and fit their budgets.
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Five Reasons Why Banks Must Modernize Their Credit Process
IT budgets have swollen in the years since to be consumed by new systems addressing regulatory requirements, enlarged compliance functions, and seemingly black hole risk optimization programs. However, a study has shown that as much as 85% of technology time and resources are devoted simply to keeping legacy systems on life-support. To many loan originators or underwriters, the technology world does not appear to have moved on and the credit lifecycle remains the domain of manual processes, over-lapping yet unconnected systems, and enough paper to keep the world's printer and ink manufacturers in business. But does it have to be this way? Viewed from the perspective of a former banker who spent many years in the weeds of a traditional bank credit process, this paper shortlists five reasons why banks might consider technological solutions to their loan origination gremlins.
