For retail lending, the Internet has opened the door to a whole new world. In fact, it has fundamentally changed the way in which business is done and services are delivered. Whether in a retail store, a restaurant, or a bank, consumers’ expectations have changed.
They expect businesses to provide services that are simple to understand, tailored to their needs, and rapidly delivered. They also expect to connect in real time and on demand through whatever channel they prefer – in person, over the Internet, by phone, or through a mobile device.
Financial institutions have recognised these trends and have increased their hours of operation, enhanced their online offerings, and developed mobile applications. Although these changes have already improved the way banking is done, today’s retail lenders still have the opportunity to be on the leading edge of this transformation.
To be successful, lenders will need a clear view of how these changes will be reflected in their market and how to make the most of this new reality.
Download the full article . . . . Retail Lending 3.0 – Boosting productivity and improving the customer experience
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