In challenging times companies must focus on creating and maintaining loyalty among high-value customers.  Personal Loan consumers rely heavily on independent search and can easily switch so it’s vital to ensure the experience is optimized.  Among consumers with 720+ credit, delivering a secure and high quality digital experience and ensuring customers understand key details can be the difference between a loyal customer and a lost loan.

Lending News Spotlight

Consumer Credit Origination, Balance and Delinquency Trends: Q4 2020. Transunion recently released their Q4 2020 Industry Insights report spotlighting key lending trends.  There are some positive signs with strong consumer demand in mortgage lending and improving demand in Auto Lending and Consumer Lending.  That said, there is substantial uncertainty ahead as the longer term impacts of the pandemic on loan delinquency and foreclosure as well as job market uncertainty make future loan demand and servicing challenges hard to predict.