This ebook discusses these four trends and how financial services providers can leverage income and employment data in their digital experiences to remain nimble during evolving times.
Lenders today must be in-tune with the ever-changing and evolving landscape of the consumer lending environment. Consumers want fast-paced transactions and a fair chance throughout a low-friction lending approval process, which may require lenders to go beyond the traditional credit score. Combining alternative data sets to capture a more comprehensive financial view of loan applicants can help borrowers prove their creditworthiness and allow lenders to say “yes” to more loan applicants. Four significant trends are reshaping the consumer lending environment that lenders should note to remain profitable and relevant in today’s dynamic environment.