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How Does the Digital Lending Experience You Provide Stack Up? Three Tips to Consider

It’s been a few weeks since we’ve focused on digital lending best practices, but it continues to be such a hot topic these days. Here’s a link to where we left off in case you wanted to check it out. Moving forward, here are three more key considerations every financial institution’s loan origination system must incorporate to maximize success in the digital segment:
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Don’t Forget These Indirect Lending Best Practices When Evaluating Loan Origination Systems

If you ask any financial institution that’s recently enjoyed success with its indirect lending program, chances are that success will in some way be attributed to the relationships built within that institution’s dealer network. Those relationships involve several key factors – far beyond showing up once a month with donuts and slightly lower rates.
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3 More Loan Software Compliance Best Practices That Every FI Should Consider

My car isn’t really that old, but it’s old enough to where I held my breath last month when I took it in for an emissions check so I could renew my registration. Luckily, it passed, and I didn’t have to visit my mechanic for needed repairs – unlike a friend of mine. She’s looking at a pretty hefty price tag before her car meets regulatory standards and her registration can be renewed.  Whether it’s your car or something much more serious like your financial institution’s loan software, finding the best solution to help meet regulatory standards as well as a trust-worthy provider can sometimes be harder than expected.
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Ask the Experts: How XpressCollect is Revolutionizing Collections

Collections will never be the same.  XpressCollect, the latest addition to MeridianLink’s market-leading suite of products, has quickly been recognized as one of the most powerful and innovative collections tools. With its robust and intuitive platform, XpressCollect maximizes efficiency and minimizes costs. The web-based platform provides unmatched benefits that start with a sleek user interface that delivers the ultimate user experience. XpressCollect not only replaces tedious workflows of the past with increased automation, sophisticated analytics and easy-to-use functionality, it also evolves with your financial institution’s operations and goals. As you may know, we hosted an introductory webinar yesterday to provide more information about XpressCollect and its benefits. In case you missed it, you can request the recording link below. Here’s some of the Q&A following the presentation and demo to give you some more insight on how XpressCollect works:
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Does Your Loan Origination System Adhere to These Digital Lending Best Practices?

Digital lending best practices continue to be a major focal point for many financial institutions as they strive to optimize the mobile user experience for their customers and members. As we’ve previously discussed, this often goes beyond the functionality of the loan origination system, itself, but that doesn’t diminish the fact that there are several key factors every institution must consider when evaluating whether its loan software can help it meet its goals.  This week’s blog post features three more of the most important best practices every financial institution needs to consider when evaluating digital lending technology and processes:
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Crucial Compliance Best Practices to Consider When Evaluating Loan Origination Systems

While digital lending, robust decisioning and cross-sell functionality are all atop most financial institutions’ list of priorities when evaluating loan origination systems that could properly fit with their goals, processes and strategies, regulatory compliance still finds its way into the mix – and rightfully so.  As regulatory pressures continue to mount, financial institutions need technology they can count on to help them meet compliance requirements and efficiently handle regulatory audits. Regardless of the system you choose in the end, here are three best practices your solution should satisfy that will ease the burden of regulatory compliance:
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How to Find the Right Loan Origination System to Meet Your Indirect Lending Goals

Any financial institution that invests in its indirect lending program understands how difficult it can be to separate itself from the competition. Besides offering the best rates or dealer incentives, the most successful lenders are often the ones that provide the best service. This often means delivering fast and accurate decisions while dealers are trying to close a sale. That’s why it’s important for financial institutions to rely on loan software technology that pushes them forward rather than holding them back.  Here are a few best practices to consider when evaluating if a loan origination system is the right fit for your financial institution's goals and strategies:
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3 More Mobile and Digital Lending Best Practices to Help Survive the Madness

Have you filled out your bracket yet? If not, you better get on it soon since the big dance starts in just over an hour. It’s always interesting how so many people have unique strategies when deciding on the teams that will advance and eventually be crowned champions of college hoops. Some people have watched so many games this season that they can make educated decisions. While others, like me, find other less analytical ways to decide since they haven’t seen at least half of the teams actually play. Almost everyone knows or has heard a story of someone who won a pool because of picking something like their favorite mascots or colors. The point is that there is no single method or formula that leads to victory. While some people have won with crazy strategies, it’s best go with what works best for you. For digital lending success, it sort of like that – although the stakes are much higher. From the online or mobile application process to the decisoning, workflow and funding processes, financial institutions everywhere are still searching for the right strategy to survive and advance among today’s fierce competition. That’s why we’re here to help. This week’s blog post features three more of the most important best practices every financial institution needs to consider when evaluating technology and processes:
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3 Best Practices to Optimize Your Mobile and Digital Lending Strategy

As financial institutions continue to adapt their operations to evolving consumer demand stemming from the digital marketplace, it can be difficult to determine the functionality and features of a digital application tool, loan origination system and deposit account opening platform that can provide the most efficiencies and growth opportunities.  With that in mind, here are three of the most important best practices every financial institution needs to consider when evaluating its technology:
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3 Ways to Sharpen Your Digital Lending and Account Opening

When it comes to digital lending, it’s not enough to just have a presence. As technology evolves, consumer demand shifts, and lending strategies expand competition within the industry grows seemingly exponentially with every new day. Technology plays a key role in staying competitive. Institutions not only need to have reliable loan origination systems in place, but also tools that provide necessary levels of automation and configurability to maximize efficiency and profits. Traditional loan origination platforms can’t do all this alone.  To help illustrate this point, here are a few best practices to help ensure your online web application is providing the most ROI for your portfolio:
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