Digital customers need serving by digital processes, so how do lenders adapt?

Digital customers have quickly grown used to accessing instant services via smartphones – but when it comes to assessing providers, they aren’t interested if one is a bank and another a film streaming platform, they expect each to deliver a high quality service, instantly.

For banks and other lenders, meeting this expectation can be tough. Customers want instant loan decisions, but compliance guidelines mean complex rules have to first be applied to each application.


Lenders have an obligation to treat customers appropriately and to fully understand an individual’s circumstances around borrowing and the affordability of repayments. Therefore, to meet both the customer expectation and compliance obligations, lenders need decisioning software that helps bring multiple data sources together then automatically applies a complex set of lending rules to create instant and appropriate decisions on loan amounts and repayment terms.

Not only do lenders need software to make on-the-spot assessments and decisions for today, they also have an obligation to understand how an individual’s circumstances might change over time.

Fortunately, software has helped lenders transform processes and make new digital services available to customers as it allows complex rule sets to be implemented and controlled quickly and easily.

Lenders now have tools that can do complex modelling and run multiple scenarios without delaying the digital journey and risking the customer dropping out of the process – and when service or rule changes are necessary, lenders can test accurately and implement without any discernible break or change in service.