Lenders’ Perspectives: Consumer Loan Origination Vendors

Solutions that provide leading features and functionality can help lenders improve the process for both borrowers and lenders.

Boston, October 29, 2020 –Justifiably spooked by a dramatic economic downturn, lenders are facing the same high borrower expectations and intense competition from their peers as before, but now in conjunction with fears of deteriorating financial health among potential borrowers and serious obstacles to loan origination through in-person channels. Those lenders that have already transformed their lending processes by using a leading retail loan origination system are arguably better positioned to weather this storm. Done right, RLOS solutions allow lenders to offer a modern application experience to consumers applying for all manner of loans while creating automation across the loan life cycle for lenders seeking to make the origination process more efficient and compliant.

This Impact Report explores the perspectives of clients that are using solutions offered by vendors actively participating in this market, highlights some key drivers for clients seeking vendor solutions as well as various reasons leading to specific vendor selections, and provides client views across vendors’ essential capabilities. Leveraging the process laid out by the Aite Matrix, a proprietary Aite Group vendor assessment framework, this Impact Report provides views of client references related to the retail loan origination market.

This 27-page Impact Report contains 17 figures and two tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

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