Online Lending Technology Think Tank Review

Credit Connect’s hosted its second Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors.

The themes of business transformation,  credit risk, affordability and open banking were discussed by panellists and Chair Chris Warburton from ROStrategy The insights from the event were recorded and now can be viewed by clicking on this link.

Nearly a hundred lending professionals from banks, credit card providers building societies, loan providers, credit unions and fintechs were amongst the viewers across the four sessions.

Commenting on the event host Colin White Founding Director at Credit Connect said “It was great to see such a great mix of lending professionals take part in the industry panel discussions supported by the viewer interactions responding to the survey polls and asking questions during the lending focused event.”

“We have had some great feedback from the attendees and am looking to continue some of these conversations at the Credit & Collections Technology Think Tank in Manchester on 4th November.”

Speaker David Wylie from LendingMetrics said “I was delighted to be asked to take part in the panel discussion around credit risk technology and it was very interesting to exchange views with the other speakers on emerging credit risk trends in the wake of the pandemic. In particular, I believe the way in which recorded credit data has been impacted during the pandemic will pose one of the greatest challenges for lenders to get right as business-as-usual returns.”

The next Online LENDING Technology Think Tank will take place next year.

If you are interested in speaking or becoming a sponsor for the next event then call 01622 437014 or email events@credit-connect.co.uk for more information. More online events will be confirmed soon.

Selected Event Poll Results

Where is your organisation in terms of Open Banking adoption?

• Investigating 20%
• Developing 15%
• Implemented 45%
• Not currently considering 20%

What is your company’s barrier when assessing digital business transformation options?

• Disruption 14%
• Time spent on transformation 14%
• Money spend/budget 7%
• Risk of change 65%
• Worry about change not improving outcomes Other 0%

What information do you think lenders need to enable better risk-based decisions?

• Real-time information 83%
• Lender specified data 8%
• Data gleamed from face to face or audio contact. 9%
• All of the above 0%

Are you satisfied with the current compliance software that your contact centre utilises?

• Totally satisfied 0%
• Mostly happy with current solution 33%
• The solution could use improvement 66%
• Looking for alternatives/do not have compliance software 0%

To what extent does your contact centre utilise automated procedures or AI to expedite processes in the contact centre?

• Several processes are automated- AI currently implemented 0%
• A handful of processes are automated 20%
• No automation whatsoever 80%

Is your contact centre currently looking to adopt any gamification software?

• Already using gamification software 50%
• Considering employing gamification software 0%
• No plans on using gamification software 50%

* ALL EVENT DATA AND POLL RESULTS ARE COPYRIGHTED TO CREDIT CONNECT MEDIA  AND SHOULD NOT BE USED OR SHARED WITHOUT OUR PERMISSION