{"id":9900,"date":"2018-06-22T11:15:28","date_gmt":"2018-06-22T11:15:28","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=9900"},"modified":"2018-06-22T11:15:28","modified_gmt":"2018-06-22T11:15:28","slug":"moving-going-digital-beyond-just-eliminating-paper","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/moving-going-digital-beyond-just-eliminating-paper\/","title":{"rendered":"Moving \u201cgoing digital\u201d beyond just eliminating paper"},"content":{"rendered":"

Historically, \u201cgoing digital\u201d for lenders meant automating manual processes and moving paper-based processes online. In many cases however, lenders simply recreated their offline experiences and processes in an online environment. Recently, this has begun to change. User-centric design and design thinking have led some lenders to begin to change that experience. There are four key trends likely to drive this next era of innovation in digital lending:<\/p>\n

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  1. Re-imagining end-to-end workflows and processes<\/b> \u2014 lenders are integrating new data sources and re-thinking the requirements to originate a loan. This is causing them to also rework both their customer experience and internal workflows, delivering an efficient and frictionless lending experience.<\/li>\n
  2. Delivering a \u201chuman touch\u201d digitally<\/strong> \u2014 many borrowers value personal advice and having someone readily available to answer their questions. However, this does not always require a face-to-face interaction or even a phone call. Support can be effectively delivered through innovative digital channels.<\/li>\n
  3. Cost-effectively providing personalized advice at scale<\/strong> \u2014 consumers have clearly indicated their desire for relevant advice which helps them improve their financial health and make smarter financial decisions. Personal financial management tools and financial wellness programs are increasing in popularity.<\/li>\n
  4. Providing additional value-added services<\/strong> \u2014 lenders are increasingly positioning themselves as trusted advisers, providing a full suite of support to consumers aligned to their individual needs and preferences.<\/li>\n<\/ol>\n
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