How Will Banks Survive The Lending Revolution
The convergence of new technologies, the rise of alternative lending models, and evolving consumer behavior signal a chance for banks to evolve, grow, and thrive. Alternative finance (AltFi) creates new opportunities for banks. Forward-looking banking institutions are developing partnerships with alternative finance companies to grow their markets, share fundamental capabilities, and expand their expertise.Astute banks are leveraging the latest advances in cloud technologies to modernize and simplify their organizations. They are delivering innovative digital experience that meets the expectations of today’s tech-savvy customers while improving responsiveness to deal with market uncertainty.This whitepaper proposes four strategies that banks can adopt to prosper in light of the rising success of alternative finance and peer-to-peer lending. It concludes by explaining how cloud technology can help banks leverage innovative marketplace lending models to achieve growth and success.