Should we be so Focused on Lending Regulations?
As an industry, we may be misconstruing lending regulations. Regulations have been the focus of conferences, industry news feeds, and blog posts. While we should keep an eye on regulations, they are just one indicator when trying to plan out the future of a lending company. What’s more important, regulations are a lagging indicator. Regulations […]
Lending Technology Trends and Forecast for 2014
As we close out another calendar year, a time-honored holiday tradition is the writing of either a top ten list from the year gone by or a forecast for the coming year. Forecasts are more fun because you get to look back a year later and either revel in correctness or figure out how things […]
How Consumer Lenders Can Make Competitors Irrelevant
Preface: What is the Blue Ocean Strategy? The blue ocean vs. red ocean is an analogy used in the book The Blue Ocean Strategy by Renee Mauborgne and W. Chad Kim. The red ocean is a saturated, competitive market where profit margins are decreasing, and businesses are forced to compete with lower prices and higher […]
A Scripting Story – How I Taught a Computer to Integrate
Before I was product manager, I used to do scripting for my clients, and often some of our sales reps would throw something in my direction if it was particularly math heavy, as they knew that I had originally majored in astrophysics. On one occasion, a sales rep had a client who was ready to […]
The History of Lending Part 4
Photo Credit: Benson Kua via Flickr I know that I said at the end of Part 3 that we would see how computers changed the nature of lending, but I realized that before we look at that, we need to look at how “modern” lending practices were conducted before there was computer software to help […]
Discover CFPB Compliance
Software won’t make auto lenders compliant, but it should provide the necessary tools to do so. Just a few months ago, the CFPB (Consumer Financial Protection Bureau) completed its regulation requirements for large auto financing companies. After reviewing these requirements, we have come up with some useful tips to consider in leveraging the functionality of […]
The History of Lending Part 3
Photo Credit: Benson Kua via Flickr Even before the Empire fell (we’re talking about the Roman Empire here), the lending industry was dealt a death blow by the Roman Catholic Church, which had become the State Religion in 312 AD. Just 13 years later, the First Council of Nicaea forbade the clergy from engaging in […]
The Competitive Lender’s Scorecard: 8 ideas to arm yourself with in the new lending arena
We know banks and traditional lenders are being disrupted by the rise of financial technology innovations. But how about an online lender vs. another online lender? Or a modern CDFI against another modern CDFI? Here are some quick, fun, short scorecard items to keep in mind. 1. Your lending engine is up to date, both […]
The History of Lending Part 2
Photo Credit: Benson Kua via Flickr If you haven’t read our five-part series on the history of money, now would be a good time to check it out. Now, we are going to go back to the beginning to explore the history of loans. At the start of the Roman Republic, the southern portion of […]
Lenders – 4 Tips to Improve Your Website
I have something to confess. I like to look at and critique lender’s websites. Some are really good. But many make the financial industry look dated and behind the times. Here’s the thing. With the popularity that peer-to-peer lenders and other online models bring to the financial industry, there is no better time to start […]
