Imperatives for a Smarter Retail Lending Solution

With digitization impacting all facets of banking and customers demanding real-time services, retail lending solutions need to be personalized and proactive. Financial institutions with legacy systems deal with the challenges of long and cumbersome implementation cycles for retail lending solutions. Lack of end-to-end digital lending also results in slower delivery of solutions and services and higher abandonment rates.

Developing a solution that caters to different consumer segments and releasing it without errors while meeting the targeted timelines is possible with a trusted technology partner. An innovative solution that automates all aspects of retail lending, starting with loan initiation to loan processing, approvals, and compliance management, is vital to ensure robust growth of the consumer credit segment.

Read this whitepaper to understand:

• What are the challenges faced by banks while implementing a retail lending solution
• Why should retail lenders adopt an automation platform
• How can an agile implementation methodology mitigate implementation risks
• How Newgen’s low-code-based retail lending solution offers tangible benefits