Ushering digitalization and embedded finance to the lending industry

Introduction

The unprecedented pandemic has forced lending industry to re-evaluate the way they work and change their internal processes, marketing channels, pricing models, and, in some cases, even their target audiences. Lending industry needs to be ready to ride the wave of the emerging trends as there is good probability of it being the new way the world operates.

The future of lending industry has been defined and it is time to get into execution mode. Lenders will have to embrace digital transformation, culturally change the way internal team and departments work, empower the workforce, revamp the processes and adopt newer lending practices to emerge as a winner.