Online lending

Online lending

Use online channels (internet, applications) to make contact with new segments and sell loans to clients and non-clients alike.

Do you spend 5 days or 5 minutes approving a consumer loan? If it's 5 days, someone else may have already provided the loan to the customer! We all make purchases based on emotions, even if we often tell ourselves the opposite. And those who borrow to buy are much more susceptible to their emotions.

The ideal customer experiences something like this:

“That TV is too small! I need a new one.” And he decides to buy a new TV on credit, because it's standing in the shop at the time and he really wants a widescreen TV. Or he “longs” for a new phone, because the latest model is great. And the kids need a new bike for the spring. Can you tap into his emotions and provide him with a loan right when he's 99% convinced about his purchasing decision?

The path to his emotional purchases is called digital onboarding

In his current state of mind, try asking him to come to the branch, fill out some paperwork, and wait 5 days for approval. You'll lose him. Because nowadays we want everything immediately, without waiting. Online.

Digital onboarding enables you to:

  • Make use of the customer's emotional purchasing decision (yes, we make purchases based on emotions)
  • Immediately resolve the client's financial question
  • Obtain an excellent communication channel, which the customer has with them practically all the time
  • Provide them with a practically barrier-free loan
3x

Shorten Time to Yes to a minimum. The sale of loans via our mobile application is 3x more effective.

Sophisticated client verification tools

Applications that utilize real time and near real-time technology “communicate” with the customer. The client's requirement launches sophisticated risk evaluation processes that use statistical methods and artificial intelligence algorithms. Based on the data, they evaluate whether there is a suspicion of fraud and calculate the current client score. 

The solution from Adastra will enable you to:

  • lend money the moment the customer needs it,
  • change rates whenever necessary,
  • react to market needs,
  • establish the required infrastructure,
  • and corresponding processes for loan evaluation, approval, and processing.

Customers expect the bank or financial institution to give them money right when they need it. For example, you can allow them to apply for a loan on Facebook!

Would you like to get a solution customized to the needs of your company? Contact us today.

40%

Almost 40% of loans in Moneta Money Bank are arranged or drawn online. In a year-on-year comparison, this means an increase in fully online loans, i.e. products with no action by a branch or customer center, of 65% among households, and by as much as 175% in the case of loans for self-employed persons. (Source: Banking).

Get more info today, start implementing tomorrow.

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