May we borrow your attention for a few minutes? If you have a vested interest in commercial, residential, business, and/or personal lending, pull up a chair to hear what Chris Karageuzian, CEO & Co-Founder at Help With My Loan, and Alex Jimenez, Managing Principal, Financial Services Consulting at EPAM, are saying on our latest #TakeItToTheBank conversation.
The economy is getting softer but that doesn’t necessarily mean it’s a bad time for loans. According to Jimenez, some players are saying “This is actually a good time if you have the discipline” and “if you have the right team.”
Karageuzian and Jimenez talk about how automation is changing the way front-end underwriting works today and will work tomorrow. In a time when rates and guidelines are in rapid flux, and some banks that have been in business for 30-40 years are shutting down, automation can be an important strategic advantage.
“Our production is going up because a lot of people need to automate,” says Karageuzian. “They wanna move faster, they need to be able to handle the remote work.”
It’s a complicated moment for banks. Karageuzian says that there's an “overflow of deals at certain banks that are staying in the market, but they need technology because they don't have the staff.”
Listen as these two loan-minded interlocutors talk about FinTechs and VCs, the pandemic’s effect on commercial lending, and how salespeople can be, as Karageuzian puts it, “augmenting their talent with technology.”
So lend your ear to this episode to get a better—a much better—understanding of the tech-enabled lending game.
Host: Alison Kotin
Engineer: Kyp Pilalas
Producer: Ken Gordon