It used to be that only large lenders with extensive financial and development resources could even think about building their own loan origination systems. Today, innovations in hardware, software, and agile processes allow smaller lenders to do so as well.
With the need for personalized relationship management becoming increasingly vital for serving members, credit unions can envision and create loan origination systems specific to their business needs.
This episode of the CUNA News Podcast, sponsored by defi SOLUTIONS, features Scott Hendriks, director of product strategy for defi SOLUTIONS, and Craig Levering, director of banking transformation practice for PricewaterhouseCoopers Advisory Services.
Hendriks and Levering discuss some of the technological and industry changes that enable credit unions to build their own loan origination systems. They also highlight the business benefits of doing so, trends to watch, and more.
In this episode:
1:50: Moving on from traditional thinking
4:37: A tailored experience for members
8:04: The benefits of building your system
11:28: What to consider before a build
15:00: Understanding the capabilities you need
18:39: How the pandemic affected build decisions
22:50: Trends and technologies to watch
The views expressed by Craig Levering are his own. They do not necessarily represent the views of PwC nor are they intended to endorse any specific software or vendor.