Finance is evolving - and with it, how we lend money and how we borrow money is also evolving. Manual, traditional lending with endless paperwork, long processing timelines, and in-person verification is slowly being replaced by digital lending platforms that are making lending easier, faster, and safer than ever before. This evolution represents more than a shift to convenience. This shift impacts availability of credit, operational efficiencies, and lender evaluations and engagement with borrowers in a way that will be different going forward. Whether you are an incumbent financial institution, a fintech aficionado, or simply someone that sees the evolution of lending, understanding the distinctions between traditional lending and digital lending will provide clarity in terms of wher...
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