Loan automation software is the new black; at least it is in the world of local lenders. Banks and credit unions are more attuned now than ever to the need for a shift in mindset and functionality to keep up with the ever-changing trends of the digital era. Unfortunately, many small to medium enterprises don’t have the capital to invest in advanced tech and are discouraged by lengthy processes of a complete transition to digital lending solutions. 

Luna Connect aims to bridge this gap with its new out-of-the-box platform that gives local lenders a ready-to-use, easy-to-integrate product. We employ the following five tools to make digital transformation possible within weeks.

As digital lending platforms grow in demand, local banks and private lenders are struggling to make the change to online user interfaces. In response to this challenge, Luna Connect has officially released The Luna Connect Digital Transformation Playbook, From Traditional Local Bank to Digital Lender: How to Make the Transformation in Weeks,

As footfall at retail outlets continues to fall and people choose to complete more of their purchases and transactions online, from the comfort of their homes, lenders need to respond accordingly. 

Thanks in large part to the COVID-19 pandemic, which has accelerated the trend for moving online, gone are the days when customers would come into a branch to enquire about securing a loan. 

Now, customers will Google a lender, expect to be able to ask questions via email or Messenger and apply online. In a competitive marketplace, if your digital lending or credit union lending business isn’t able to meet these expectations, then your potential customers will go elsewhere for their loan instead.     

Luna Connect and Yapily outline how to automate loan origination and credit decisions with online loan origination and Open Banking

What Is Artificial intelligence (AI)?

Artificial intelligence (AI) is used in various aspects of our lives and every day we are surrounded by companies, technologies and devices that use AI. You unlock your phone using face recognition, social media personalises your feeds, spam emails are filtered from your inbox and banking systems determine if your latest purchases were fraudulent. 2020 will go down in history as a pivotal time for digital transformation. In 2021, what may have until recently felt new, exciting and progressive is now becoming the norm.

Are you constrained by existing technology investments to compete with digital competitors?

Innovation has always been a crucial part of lending throughout the ages. From the very first signs of civilization, lenders have leveraged best practices to survive and prosper in the evolving environment.

From Mesopotamia, to Greece and Ancient Rome, lending has been going through continuous transformation. 

Today, lending institutions find themselves facing an arduous digital transformation challenge. But looking back at the past can often offer some explanation to the changes in the present, and where better to begin than in the cradle of human civilization?

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

Learn about

• 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.

Learn about:

• 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