The process of finding out whether you will be accepted for a loan, in a lot of cases, still requires a hard credit check. But what if the customer experience included a pre-approval soft check? What if, post-acceptance, all paperwork was digital? What if you could provide a digital signature instead of a paper one, and what if the drawdown of your loan could happen, almost immediately? It would just be quite simply, better.
Point of sale lending is a difficult and nuanced thing online, on the one hand, it is a design challenge and on the other, it is a data integration, validation and use problem. Making decisions at checkout needs to be considered, not reactionary... supportive, not advice-led... and seamless. We understand how difficult it can be to get this right and can help make it a perfect user experience.
"Loans don't need to represent in-app"... we once heard a prospective client say. But regardless of whether you can carry out account servicing, loans actions or additional lending, we should think around the product in a user-centered fashion. Where are the unmet needs? Where can we offer value? Can we be of support? The justification for the feature set and functionality development isn't limited to what already exists, it's limited by imagination.
Find out more about the innovative mobile, web and emerging tech solutions that we deliver across lending and other sub-segments of financial services.