How is Technology Changing the Future of Consumer Lending?

The changing space of digital lending transformation is bringing a remarkable shift in credit analysis and bank loans. Likewise, in the last couple of years we see many advanced in digital lending thanks to technology. For example, we’ve seen a new way of vetting applicants that promote inclusion, while strategy backed by artificial intelligence and streamlining sales. Also, Blockchain has eliminated the need for intermediaries and Cloud computing is solving the digital lending sector uptime concerns.

Moreover, some trends expected to see in the Digital Lending Market 2021-22 are the following:

1.  NLP will improve the customer experience.

2.  Regulatory sandboxing.

3.  Greater Omni channel capabilities .

4.  Non-banking institutions will continue entering the space.