How financial services can digitize to create a better mortgage lending experience
Financial services companies face a growing list of challenges (and opportunities) that increasingly require digital solutions. COVID-19 has brought that reality into stark focus, and has made digital capabilities a key differentiator in the financial services space.
With limitations around in person interactions, the pandemic has completely transformed how consumers interact with their banks. In fact, one BCG study found that 24 percent of consumers plan on visiting branches less—or not going altogether.
And why should they? If they can buy a car, order food, or even work and learn from home, why shouldn’t the same be true for their financial dealings?
The pandemic has undoubtedly created a lot of challenges and highlighted barriers to operations over the past couple of months. But, it has also served up a multitude of opportunities for banks to differentiate themselves through digitization.