The loan lifecycle is changing in front of our eyes, which means lenders need to stay up to date on the latest trends in technology in order to continually improve their processes. Nancy Lee of ABLSoft identifies cognitive computing and automation as two of the most important technology trends impacting the commercial lending market right now.
The advent and advancement of Cloud technology has opened the door to major changes in the world of business credit, enhancement and collateral monitoring. We are barraged with a constant flow of new buzzwords, phrases and acronyms for everything trendy and exciting. It’s hard to keep up. Yet, Cloud computing and Business Processing as a Service present opportunities for considerable cost savings and efficiencies.