Are you constrained by existing technology investments to compete with digital competitors?
Learn how SME Finance and Leasing Solutions are transforming lending
Access our On-Demand Webinar and learn how SME Finance and Leasing Solutions DAC are transforming lending for SME's, including a very insightful Q&A with Declan, Darren and Brian covering customer service, digital transformation, Covid-19 and Open Banking.
- Declan Roche SME Finance & Leasing
- Darren Greenyer Anchor Computer Systems
- Brian D'Arcy Luna Connect
- Growing a diversified loan book online
- Delivering high levels of customer service through digital channels
- Transforming operations with real-time reporting and analytics
- Reducing costs with automation and end-to-end integration
Learn how Carlow Credit Union are transforming lending
Access our On-Demand Webinar recording and listen to Siobhan Gray, Head of Lending, on how Carlow Credit Union are transforming through digital lending.
- Increasing lending to Members and Non-Members
- Building a Member and Non-Member experience through Digital Lending
- Transformation in Lending and Underwriting Management
- Emerging digital trends in loan (lending) origination
- Seamless Identify (Know Your Customer) Management
When talking to customers about Open Banking the two questions we get asked most frequently are 1) can I see it in action (does it really exist) 2) do I need to be a registered AISP. I'll be going through both of these in this post. If you haven't already read the other two posts in this series check them out here Practical Guide to Open Banking and PSD2 Part I: Lending, and here Practical Guide to Open Banking and PSD2 Part II: Are you ready?
Helping small businesses access finance quicker with automated loan-origination processes
Small businesses rely on finance options to purchase and upgrade the assets that are essential to their growth. Traditionally, applying for finance was a time-consuming and frustrating process for the customer, requiring extensive paperwork and a lengthy wait for a decision.
Luna Connect is revolutionising the loan-origination process, utilising automation technology to help traditional lenders compete online and to help small business owners access finance quickly and effectively.
Recently, we worked with Irish company SME Finance & Leasing to increase their market share by providing a convenient and easy-to-use online solution for their borrowers.
In this post I'll outline how to plan your Open Banking project, and ask is Open Banking ready, is your business ready, and most importantly are your customers ready. If you haven't read Part I of this series you can read it here Practical Guide to Open Banking and PSD2 Part I: Lending.
The OBIE in the UK publishes a monthly report on the Open Banking ecosystem, regulated entities and providers. This is a great source of information on adoption, and the Open Banking February Highlights provides stats on the number of successful API calls having risen from 280.5 million to 321.3 million (December 2019 to January 2020).
In this post, and the next 2 blog posts, I'll cover how Open Banking and PSD2 can be used practically, today. Lending is changing from face to face and phone interactions to self-service online digital experiences, and this is being accelerated globally to protect staff and customers from the spread of COVID-19 (Coronavirus). Data and APIs are the key ingredients in driving down costs and risk, increasing automation, and delighting borrowers with amazing customer experiences.
Artificial Intelligence is transforming the way we bank. Fintech companies and start-ups are causing a revolution within the lending world, and as the ever-growing importance of data analysis for making informed business decisions increases, so does the demand for artificial intelligence and automation in modern business.