THE GAME OF LOANS:
DIGITAL TRANSFORMATION IN SME LENDING
The UK SME lending sector is increasingly witnessing innovation across supply chain, origination, loan servicing and portfolio management. Some banks are already reinventing business models by offering value-based and need-based segmentation models. In such a scenario, banks need to transform SME Lending due to increasing competition, changing regulations and evolving customer expectations and technology.
Traditionally, SME loans have been associated with “piles of paperwork” and a high turn-around-time, and transaction costs to process SME loans are comparable to high value Commercial loans. The risk associated is high and assessing creditworthiness of small businesses can be difficult due to information asymmetry.
As a lender to small businesses, banks and Financial Services Institutions need to understand customers’ needs, how can they increase customer lifetime value, and of course as a new age lender how can banks get the technology right to achieve it?
Join Newgen Software in this Webinar featuring Jost Hoppermann, VP & Principal Analyst, Forrester Research Inc. as a guest speaker to understand:
- Key drivers changing the small business lending scenario
- Achieving agility in banking with business applications
- How the right technology can drive up the volume for SME Lending
- Enhancing lifetime value of small business customers