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Understanding data is key to success in the lending industry. This video helps understand the “modern borrower” and what lenders need to focus on to succeed. How to leverage new, innovative, “alternative” data sources and use them to create better risk models based on a more complete picture of a customer’s situation.
Video footage filmed at CLA Event on February 27th 2020 in Toronto, Canada. Original Music by Smarter Loans.
Featured in the video:
– Mark Ruddock, CEO of BFS Capital
– Victor Comas, JUDY.AI
– Rebecca Oakes, AVP of Advanced Analytics, Equifax
– Randeep Purewal
– Vahan Der Khaloussian, Director of Data Science at Capital One
– Gene Sobolev, Head of Data Science at BFS Capital
– Lloyd Evetts, Director at Inverite
– Sol Sun, Manager of Data Science at Borrowell
– Tanay Delima, Co-Founder at Clearbanc
– Nikita Pillai, Head of Alternative Data Strategy, Canadian Pension Plan Investment Board.
– Do not underestimate the importance of 7/24, 365 access to data
– The bet with risk modelling is that whatever we cannot observe needs to stay consistent. But it doesn’t.
– We need to think how do we adjust our models to better understand a business and its environment.
– Reliable data to profile the business looking for a loan would be in high demand for lenders.
– UX is now everything.
– Advancements in Data Analytics will allow for more personalized financial products for businesses.
– User experience design is about frictionless onboarding and compelling reasons to stay.
Thank you to the Canadian Lenders Association for hosting the event and to all the speakers for bringing thought leadership to the lending industry in Canada.
Since its inception in 2008, OnDeck Canada has pioneered the use of data analytics and digital technology to make real time lending decisions and rapidly deliver funding to Canadian small businesses in as fast as 24 hours. In this clip, Stefan Capombassis, VP of Sales at OnDeck Canada, shares the trends he's predicting in the lending industry in 2022.May 31, 2022
According to Smarter Loans’ Canada FinTech Lending Study 2022, which gathered the feedback of 2,462 Canadian fintech lending customers, the demand for digitally accessible financial products in Canada continues to grow at a fast pace.January 25, 2022
Gary Schwartz doesn't doubt that the CLA, the Canadian Lenders Association, will have a huge impact on the lending industry. Founded as the voice for tech forward lenders, the CLA is the largest association and national non-profit organization representing innovative lenders.January 4, 2022