Insight Report: Digitization in Lending
Table of Contents
1 Executive Summary
2 What is Driving Digitization in Lending?
2.1 Growing Need for Enhanced Customer Experience
2.2 The Quest for Operational Efficiency
2.3 Impact of Changing Competitive Landscape
2.3.1 Strategic initiatives by non-banks to gain traction
2.3.2 Banks' answers to the impending challenge
3 Digital Transformation of Lending in Retail Banks
3.1 Front-End Digitization
3.1.1 Digitized loan application process
3.1.2 Loan servicing
3.2 Back-End Digitization
3.2.1 Application processing and verification
3.2.2 Automated underwriting and credit scoring
3.2.3 Loan closure and disbursal
4 Challenges in Digitization of Lending
5 Case Studies
5.1 Enhanced Efficiency with Paperless Loan Processing by US Bank
5.2 First Internet Bank - the Digital Platform of Lending
5.3 Bank Dhofar - Automation of Loan Origination Improved Efficiency
5.4 Zopa - a Pioneer in Peer to Peer Lending
5.5 HDFC Bank - Banking on Digitized Personal Loan Product
6 The Way Forward for Digitized Lending
7 Appendix
7.1 Methodology
7.2 Definitions
7.3 References
7.4 Contact Timetric
7.5 About Timetric
7.6 Timetric's Services
7.7 Disclaimer
List of Tables
Table 1: Comparative Analysis of Competitors
Table 2: Business Proposition of P2P Lending Companies
Table 3: Business Propositions of Non-Bank Financial Service Providers
Table 4: Initiatives of Digital-Only Banks
Table 5: Banks' Responses to the Changing Competitive Environment
Table 6: Front-End Digitization Initiatives in Lending
Table 7: Back-End Digitization Initiatives in Lending by Banks
Table 8: Impact on Lending of Changing Regulations
Table 9: Definitions
List of Figures
Figure 1: Drivers of Digitization for Financial Service Providers, 2014
Figure 2: Regional Analysis of Top Three Drivers for Digitization, 2014
Figure 3: Drivers of Digitization Based on Size of Companies, 2014
Figure 4: Increased Productivity Due to Banking Process Automation, 2013
Figure 5: Customer's Preferred Channels for Banking in the US
Figure 6: Average Transaction Costs of Various Delivery Channels in the US, 2012
Figure 7: Customer Confidence in Transaction through Different Organizations, 2014
Figure 8: Rise of P2P Lending in the US and the UK (US$ Million), 2012-2014
Figure 9: Non-Bank Lending by Country, 2013
Figure 10: Increasing Shares of Non-Banks in FHA Mortgage Lending in the US
Figure 11: Strategies of Non-Bank Lenders
Figure 12: Evolution of Digital Lending in Banks
Figure 13: How Banks are Digitizing their Processes, 2014
Figure 14: Front-End Digitization Initiatives by Financial Service Providers
Figure 15: Increasing Preference for Digital Channels by US Customers, 2014
Figure 16: Back-End Digitization Initiatives by Banks
Figure 17: Preferred Back-End Process Automation by Financial Solution Providers
Figure 18: Benefits of Incorporating Social Media Analytics in Underwriting
Figure 19: Issues in Digitization of Banking Processes, 2014
Figure 20: Regional Analysis of Key Challenges to Digitization, 2014
Figure 21: Fund Allocation for Digitization Across the World by 2016
Figure 22: Share of Digitization in the Overall Investment Budget by 2016
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