Pooling Data Advantages: Fusing Information for Automated Loan Determinations
In a world where speed and accuracy are paramount, the financial industry is under pressure to deliver fast, responsible, and accurate credit decisions, particularly through aggregators and price comparison sites. This pressure has led to a webinar aimed at increasing the number of pre-approved customers on these platforms, and providing lenders with the confidence to lend to thin-file applicants.
The webinar, scheduled to take place in various countries across the globe, including Canada, the United Kingdom, the United States, and many more, will bring together an expert panel to discuss common barriers to automation and navigate regulatory expectations. The panel will delve into topics such as integration, data complexity, and regulatory concerns, while focusing on serving thin-file applicants with richer insight into affordability and spending behavior.
The discussion will also explore methods to reduce reliance on manual underwriting and its associated friction and costs. Lenders are increasingly turning to Open Banking data to inform their decision-making processes, but few have fully automated these decisions. The webinar aims to provide insights into how a smarter, joined-up approach can drive better outcomes for lenders and borrowers alike.
The panel will reveal how combining traditional bureau data with Open Banking insights can automate more lending decisions, ultimately boosting pre-approvals and improving the speed and accuracy of decision-making. The expert panel's names have yet to be disclosed, but the webinar promises to be a valuable resource for anyone interested in streamlining their lending processes and staying competitive in the rapidly evolving financial landscape.
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