Why credit management is broken and how technology can fix it
Lending is ripe for technology transformation, this part of the series looks at one aspect of risk – credit management – and how banks find it challenging to address borrower risk quickly because current infrastructures are not fit for purpose and how an ideal solution could fix the problem.
The growth in lending prompted by Covid-19 has highlighted gaps in the credit management process. At a time when good collaboration and strong client relationships are more important than ever, a lack of visibility into credit can slow down the lending process and damage the client experience. What’s needed is better access to data.
