The Unmatched Value of Online Lending Software for Banks

There are many common reasons for these painful delays. Some product application forms seem unnecessarily long, so lenders are forced to sit and wait while consumers complete the application. Meanwhile, consumers may be asked to chase down tax returns, bank statements, and other key information — sometimes multiple times during the same application process. And lenders often use point solutions for important services, such as verifying assets, income, or employment, that don’t communicate with one another. One missed piece of information can lead to bottlenecks that are frustrating for lenders and can damage the customer experience.