How Bankers Can Achieve the Optimal ROI from Their Lending Technology Investments. (Special Advertising Section: Executive Summary)

By Uffman, Steve | ABA Banking Journal, June 2003 | Go to article overview

How Bankers Can Achieve the Optimal ROI from Their Lending Technology Investments. (Special Advertising Section: Executive Summary)


Uffman, Steve, ABA Banking Journal


Today's lending environment is a challenging one for bankers that wish to stay ahead of their competition. Due to our nation's economics, demographic shifts and subsequent legislative changes, credit is no longer considered a privilege, but rather, is now readily available to virtually all Americans. While bankers continue to escalate their fight for share in the A-paper market, the non-prime market has developed and grown substantially. As a result, bankers have had to find ways of effectively evaluating this new population of borrowers while continuing to meet the needs of their A-paper customers as well.

As consumer demand for convenient credit has increased, so has the level of competition among lenders to meet it. This has led to the current level of hyper-competition that exists in today's market. Bankers can no longer rely on geography and brand loyalty to maintain a steady flow of loan applicants. Borrowers now have the ability to borrow from whomever they choose, whenever they choose -- regardless of location and time of day. What lenders are learning is that, more often than not, this decision is fueled almost entirely on the factors of interest rate and convenience. Today, if a banker cannot process a loan application and supply a qualified (and competitive) response within 60 seconds, 24 hours per day, there are a number of other lenders that can -- and will.

How can bankers make the best decisions for their unique circumstances when evaluating and purchasing lending technology? There are some areas and topics that should be carefully considered by bankers when selecting a lending technology vendor, including cost, functionality, interface capabilities, training and consulting capabilities and ongoing support.

When it comes to technology investments, cost of ownership is important for banks of all sizes. Cost of ownership principally comes into play with lending technology when deciding on delivery models and level of functionality in both site license and ASP environments. While ASP delivery once appealed to only mid-sized organizations, its track record has generated appeal to even Top 100 financial institutions.

In addition to cost, bankers looking to invest in loan automation technology need to also focus a good deal of attention on the level of functionality of their system, specifically interface capabilities and the ability to perform equally well through multiple sales channels, such as branch, telephone and the Internet. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

How Bankers Can Achieve the Optimal ROI from Their Lending Technology Investments. (Special Advertising Section: Executive Summary)
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.