WHAT’s THE FUTURE OF LENDING AND LOANS? – A KEYNOTE SPEAKER’S TAKE

Future of lending speakers on average, like finance futurists, have much to say about the space. That’s because a huge tidal wave of new technology trends and future of work innovations are coming down the pipeline – and a huge tsunami of change is headed the industry’s way. How so you might be asking? Allow us to weigh in. Thanks to your favorite future of lending speakers, below are some potential future trends in lending to keep in mind:

• Digital transformation – More streamlined, digital loan applications, documentation, underwriting and servicing using automation and AI.
• Alternative data – Increased use of alternative data like cash flow, rental or payroll in credit decisions beyond just credit scores. A trending topic with future of lending speakers.
• Crowdfunding growth – Platforms that allow multiple individual lenders to fund parts of a single loan becoming more mainstream.
• Supply chain finance – Lenders embedding financing offerings directly into supplier-buyer transactions and supply chains.
• Embedded lending – More availability of loans or credit offered directly at the point of sale within a retailer’s customer experience.
• Increased regulation – Stricter oversight expected, especially for higher-risk lending like subprime mortgages, payday loans, or auto loans. It’s coming, say finance futurists and future of lending speakers.
• Mobile first-solutions – Loan applications and lending processes optimized for smartphones and mobile interactions.
• Changing borrower attitudes – Preferences shifting more toward instant approvals, flexibility, convenience and digital-first experiences.
• New analytics – Machine learning and alternative credit models to enhance risk analysis, detection of fraud, loan stacking, and other challenges.
• Rising interest rates – Potential for higher interest rate environment in the future as economic conditions shift.

Long story short? If you ask future of lending speakers, both lenders and borrowers will need to adapt to these industry trends in the coming years. Companies that modernize and provide transparent, ethical options will likely fare best as practitioners come under more scrutiny and customers demand more personalized and superior service going forward.