The economic uncertainty of the Covid-19 pandemic has reiterated the importance of agility within the modern lending market.
By 2024, the COVID-19 crisis may cost the industry $3.7 trillion, primarily in lending losses. Much of these losses will be due to a lack of new lending opportunities.
Innovation is no longer a luxury, it's a requirement to stay competitive.
While agile fintech firms adapted to the constraints of coronavirus lockdowns to meet customer expectations, traditional lenders channeled investment into technology to accelerate innovation already set in motion. To ensure the continuation of the economy, lenders were responsive by creating new business models, targeting new customer segments, and future-proofing new strategies.
What new challenges will lenders face in 2022?
GDS Link's latest whitepaper explores the massive shift in financial consumer expectations, alternative business models/opportunities like buy now pay later, and so much more.
