The BIP.Monticello team attended the American Bankers Association (ABA)’s ‘The State of Digital Lending’ webinar recently. This informative webinar highlighted the key benefits of banks implementing a digital strategy in lending. The keynote speakers discussed how customers of all ages have come to expect a seamless digital banking experience. The pandemic accelerated this expectation in financial services, digital lending and specifically in Buy Now Pay Later (BNPL).
The speakers noted the benefits of an agile project delivery approach, where incremental product improvements and operational efficiencies can be gained in most financial transactions. Examples of strategic digital projects are leveraging customer data for marketing, artificial intelligence for operational tasks in loan originations and underwriting and creating application dashboards for customers to view their products online. These projects enhance the experience of the consumer while shifting the client’s emphasis to advisory and technology. Using this incremental approach, banks of all sizes can spearhead the firm strategy in initiatives such as data usage, project planning and transitioning of the banking team into digital operations.
At BIP.Monticello, our consultants actively participate in webinars, conferences, and round table discussions to ensure our clients are advised on emerging trends and risks their organizations may face in financial services, banking, and technology. We look forward to working with our clients to support their digital journeys in 2023 and beyond.