Majority of loans now originate online

October 23, 2019 | Consumer Lending

Written by FinTech Alliance

Majority of loans now originate online

Research by Fiserv has shown that two-thirds of loans over the past two years originated online.

In Brief:

  • Almost two thirds of people who have applied for loans in the past two years do so either partially or fully online.

  • This has been a significant increase since 2018, led by smartphone and tablet use.

  • The survey, entitled Expectations & Experiences, looks at years’ worth of consumer survey data.

What does this mean?

It’s increasingly important for financial products to be available across a range of channels since consumers are looking to access these products through their mobile devices. Choice is key, since consumers will often like to gather all the information they need to make an independent decision online, but may then wish to move to a telephone, video or in-branch conversation.

Read more here.

 

More in Consumer Lending

Travel FinTech raises £35mn funding
Consumer Lending
May 18, 2020

Travel FinTech raises £35mn funding

Fly Now Pay Later has secured £35mn in Series A funding. In Brief: Fly Now Pay Lat...

Chainsmokers invest in FinTech Loansnap
Consumer Lending
May 15, 2020

Chainsmokers invest in FinTech Loansnap

AI FinTech Loansnap has raised $9mn in its latest funding round. In Brief: The company u...

Tencent takes a stake in Afterpay
Consumer Lending
May 04, 2020

Tencent takes a stake in Afterpay

Tencent Holdings now owns a 5% stake in buy now, pay later platform Afterpay. In Brief:...

There are no Knowledge Bank in this category

There are no Events in this category