Disjointed Commercial Loan Origination in US Banks
The commercial lending business has witnessed exceptional growth over the recent years. Given the burgeoning demand for commercial loans, banks are struggling to keep pace with this growth. The primary cause that can be attributed to the poor performance of banks in lending is the disjointed commercial loan origination process existing in a majority of the banks in the US. The disjointed processes lead to high operating costs which renders banks less competitive and susceptible to challenges from alternate lenders who have streamlined processes and quicker loan approval time.
DOWNLOAD THIS WHITEPAPER TO UNDERSTAND:
- Why broken processes are acting as a deterrent to growth in commercial lending
- Primary reasons for the broken processes
- How the right commercial lending platform can fix the broken processes
- Essential functionalities for a commercial lending platform
- Newgen’s Unified Platform for commercial lending