Fintech simplifies the lending process

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“Fintech has been the ‘Great Simplifier’ in helping the average consumer gain greater access to funding, streamlining the loan approval process, and even giving consumers leverage through competing bids for their business,” says Brian Madocks, CEO of eOriginal.

Essentially, this allows for customers to enjoy a smoother customer experience. You’ll be able to quickly apply for a new loan and find out if you are approved quickly. Instead of enduring a seemingly endless loan application process, you can move on with your life.

As the lending industry continues to be impacted by fintech, “consumers will demand the acceleration of digital lending to enable remote, contactless closings as the new necessity, and institutions that do not adopt this will die,” Madocks expands. With a drive towards a better customer experience, you can expect features that streamline the loan application process in the future.

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