It is well known fact, that the year after year digital lending will become more and more popular, and allready now nobody is interested in solving questions at th bank’s office. Technology has changd face to face money lending to another level of online lending possibilities. And there are many reasons in the market that customers are ready for online lending.
Reaching the market
According to some of the Europes statistics, four loans out of teh are taken online using proce somparison side by side sites and smartphones. Even in edvertising business In Latvia 3 years back were no orders from smartphones in comparison to today’s 15% of orders that been generted from smartphones, and they tend to increase.
Online lending becomesmore popular because customers can provide their information much faster and more convenient than before. Also offered price and servicas can be compared to each other without going to lenders office or even calling. And daily use of bill payments through smartphone habituate users to trust digital technologies. Also for lender companies customer information review becomes fast and easy thank’s to systems like Cloud Credit offered system, that makes lending service easier, cheaper and reliable.
Digital generation affect the process of online lending, because younger people are more flexible and open-minded about online shopping as well as online lending. Especially youngsters between 18-24 years are the main audience for digital lemnding, because around 60% of them apply for loan online. In comparison only 20% of people over 55 years of age use online application for loans. In future this gap between generations will shring because of logic change of generations when young people won’t change their younger years habits becoming older.
Opportunities for both sides
Customers are searching for lower prices and lenders are seraching for customers, so in future lender comparison will become more and more popular as well as lending process will be organised as effective as possible, ir will sharply increase need for effective and easy online lending systems that can be coordinated with less stuff.
As well as high quality service, lenders flexibility for their customers and ability to offer more and more services will be the main point of losing customer or becoming more and more popular because of the digital advertisment in social media.
The path for online lenders is set – make your lending process cheaper, simple, reliable and flexible, by choosing good customers and offering high quality service by using advanced online lending systems that helps you to communicate with your existing and potential customers and help in your daily work.