Now that we’re months into living with COVID-19, the need for FIs and other businesses to reexamine back-end operations is clearer than ever. With economic instability and uncertainty, many lenders have scaled back on lending and focused on managing their existing portfolio while data scientists work diligently to recalibrate models behind the scenes. However, developing new models is not synonymous with deploying them and many lenders will face challenges in implementation. When evaluating what data sources, processes, and technologies to build or buy, efficiency and agility must be top-of-mind.
Last month Enova Decisions conducted a Consumer Lending & Financing Sentiment Survey to examine how FIs have been navigating COVID-19: the challenges, opportunities, and what’s next for FIs.Sponsored By: