Banks are building customer-centric solutions to drive efficiencies in their loan services and target larger audiences to avail their services. The rapid digitalization of financial services has made it easier to access lending services at any time from across the globe.
On this note, the lending management sector is expected to grow to $12176.98 billion by the end of 2027, according to the latest market estimations. Along with this development, the CAGR is forecasted to advance to 10.1 percent. A major driver of this growth is the rapidly increasing need for quick and simple ways to avail commercial loans, leading financial entities to digitize their services. As a result, heavy competition is brewing between banks and financial institutions across the globe to offer attractive lending schemes.
To put the spotlight on such key developments in the industry, Banking CIO Outlook showcases how clients are managing their lending by partnering with organizations that are leveraging the latest technologies. The edition features thought leadership articles from Lisa Larson, vice president payments and operations of Amplify Credit Union, who speaks about how Amplify differentiates itself from competitors through its anticipation of customers’ needs, demonstrated by its fee-free banking services. Marc Butterfield, senior vice president of First National Bank of Omaha, explains how banking as a service is revolutionizing the financial industry and the challenges it brings with it.
In this edition of Banking CIO Outlook, we also bring the stories of some of the top lending management providers that deliver the best smart credit handling solutions for their clients. The list includes Applied Micro Technology, Inc., which stands out for its loan quality assurance system designed to help clients comply with the current expected credit losses standard.
We hope this edition assists you in finding the ideal lending management providers that will deliver efficient and impactful solutions to fulfill a company’s lending management needs.
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