Whether you have an automated loan process already in place or you’re looking to implement one, it’s good to look at the advantages that come with it. These days, more and more people can’t go a full day without the benefits of automation which may seem quite surprising. However, we rely on much more automation than we think. Our payments for our bills are mostly automated to be sent out from our bank accounts so we don’t forget payment dates, the coffee machines in our offices that get us through the day usually have automated drinks settings and the programmable thermostat in our buildings make sure that we don’t need to pack our hats and scarves togo to work!
Many things that we use in our daily lives are automated and we don’t even realise it but when it comes to things that we really need; we actually expect automation to be part of the process. When we apply for credit we want to know if we’ve been accepted right away. Mostly because there is usually an urgent reason that we need the funds. A lot of people will just jump straight onto a payday lender that will give them their funds at the drop of a hat but this comes with extremely high interest rates and unfair payment terms. When affordable credit providers such as credit unions are able to take on automated loan processes, they’re helping a huge number of people in society gain access to affordable credit but they’re also improving their own internal processes too.
Here are some of the advantages that come along with having an automated loan process:
If you don’t have an automated loan process in place already, we think these reasons are some that should make you consider implementing one, and soon. The call for speedy decision making is high and we want to make sure that everyone in society can gain access to affordable credit when they need it. Right now, our team is refining and finalising our automated loan process for community lenders and other organisations so if you’d like to see it in action, please get in touch with us. We’d be happy to chat with you about it further and show you what we can do.
You can contact us, here.