Commercial lending officers have witnessed mobile banking changing the landscape of general banking services in the last five years. In a recent study, CitiBank estimated a 25% increase in use of mobile banking during 2017. Each year, more clients request greater access to both informational and transactional services through their phones and tablets.
This is great for your clients; however, it is just the tip of the iceberg. In the realm of commercial lending, we’ll see your lending and credit officers empowered through mobile apps, as well.
The last five years have seen incredible advances in loan origination and management platforms. These platforms, developed using “responsive” technology, can be read on mobile devices, but they were not developed specifically for mobile use. As the next generation of technology takes shape, here are some specific mobile actions lenders might perform while in the field.
Why should commercial lending be completed through mobile apps? Here are two reasons:
From a vendor’s perspective, the last wave of technology allowed us to move in the direction of mobile services. Step one was to re-design loan origination and portfolio management systems using responsive technology. This allows credit officers to view their pipelines, work queues, and management reports using their phones and tablets. The next step will be even bigger because it includes mobile apps that facilitate daily task management.
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