Payments is not the only area of financial services undergoing transformation to real-time; bank lending operations also face the opportunity to adopt real-time technologies.
While real-time payments refers to technology enabling more instantaneous clearing and settlement of funds between banks, real-time lending refers to technology enabling more instantaneous credit decisioning and funding of loans.
The business case for bank adoption of real-time lending is strong and multifaceted, from increased bank profitability to acquiring the next generation of business owners who place supreme value on convenience. Banks that have adopted the technology to date are not only seeing great success, but positioning themselves for future growth by averting competition from national lenders, alternative lenders, and non-traditional financing sources.
We recently published a whitepaper overviewing the real-time lending opportunity for banks. This whitepaper outlines the power of real-time lending to help banks succeed in the modern lending landscape, including:
- Lessons learned from the credit card industry
- The business case for real-time lending
- Real-time lending success stories
Download the whitepaper here.