Issue 001
This is The LendTech Digest, your monthly newsletter highlighting key business lending and technology insights from Biz2X. Each month, we unpack hot topics in business banking with commentary that cuts through the noise. Check out our featured reads for additional resources to go deep on lending’s biggest topics. ?Be sure to hit ‘Subscribe’ to be notified of future editions and stay in the know.?
Optimism Meets Uncertainty: A Vibe Check for Banks
Three in five senior bank executives are optimistic about their growth prospects, according to a new survey from KPMG . And yet... vibes are off.?
While reporting optimism, senior bank executives simultaneously cite some big concerns for the year ahead — cybersecurity, artificial intelligence, geopolitics, and political uncertainty (to name a few).?
This dissonance reflects a broader fissure in the American public, a friction that author Kyla Scanlon calls a “vibecession.” While things may look good on paper—the economy is growing, and many banks are along with it—sentiment is poor due to an unshakeable feeling of uncertainty about the future.?
We don’t have a crystal ball, but we do have insights into how technology will shape the future of banking. In this month’s issue of The LendTech Digest newsletter, we’re calling a vibe check. Discover how technology is revolutionizing loan origination and opening pathways to relationship building with customers, providing advantages to lenders and borrowers alike.?
Industry Insights?
Relationships have always been at the heart of the banking industry; Perhaps that’s why bankers have been so resistant to technology.??
Anyone with a social media account can tell you how empty digital relationships are, but there’s no denying digital platforms also have the power to connect. Consider that 10% of partnered adults today met on a dating app, according to Pew Research Center.?
That empowerment is precisely the promise lending platforms offer banks, through optimized operational efficiency enhanced risk management, and deeper insights into growth opportunities. Ironically, these automations get bankers out of the office and into the real world.?
Banks eager to cultivate new relationships and deepen existing ones should consider that it’s not about the presence of technology, it’s about how you use it.?
Want to learn more? Read how Biz2X helped First Savings Bank improve their customer experience and underwriting efficiency in our latest case study .?
Featured Reads
Ready to go deeper? These articles offer more insights on this month’s biggest topics in business lending and technology.?
The landscape of loan origination has undergone significant transformation over the last few years, with automation, artificial intelligence (AI), and digital processes becoming increasingly central. Read on to understand how the right loan origination system (LOS) must not only align with current technological advancements and banking regulations but also anticipate future developments. ?
Artificial Intelligence (AI) is revolutionizing the lending industry by providing unprecedented advantages to both lenders and borrowers. As technology continues to evolve, AI’s role in lending will likely expand, transforming how financial institutions operate and interact with their clients. Keep reading to learn how AI can improve risk management, increase efficiency, personalize services, and more.?
Additional Links and Resources?