Consumer Lending on the Cloud

6 May 2021
by Ronak Doshi, Satyajit Roy, Kriti Gupta

The consumer lending industry is poised to see significant growth on the back of pent-up demand, which has started getting released to make up for low consumption during the pandemic. Consumer behavior has changed dramatically in response to the economic slowdown, government stimuli rollouts, and changes in the perception of credit risk and financial stability and wellness. This change is forcing banks and financial institutions to shift from traditional to digital lending, with increasing emphasis on reduced loan processing time and increased digital experiences. The fundamental tenets of Secured, Ubiquitous, Personalized, Easy, and Responsive (SUPER) lending have not evolved; however, their relative importance has changed. 

Lenders must rethink their product, experiences, and channel strategy in the next normal and adapt to changing consumer expectations. They should look to consolidate systems across disparate platforms for each product line to overcome the limitations of siloed data and technologies, which act as a roadblock for unified experiences and a single customer view.  Pragmatic adoption of automation, cloud, cognitive technologies, data & analytics, and digital experience platforms will play a key role in driving the growth of next-generation consumer lending.

In this report, we discuss how a cloud-first loan origination platform helps modernize processes, reduces operational costs, and improves customer acquisition and revenue. Such platforms deliver an enhanced omnichannel customer experience, improve operational efficiencies, and mitigate fraud. 


Industry: banking and financial services

Geography: global


In this report, we study:

  • How lenders should create new lending experiences
  • The importance of a cloud-first, platform-based operating model
  • Lending technology vendors’ accelerated investments 


Banking & Financial Services (BFS) - IT Services (ITS)

Sourcing and Vendor Management


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