Why Is Goldman Sachs Getting Out of Consumer Lending?
My second job out of school was working for Deluxe Check Printers calling on banks in Alabama. One of my favorite banks was an independent bank in Guntersville Alabama. This particular bank was your typical bank, friendly hometown bank with conservative financials. However, this bank recognized the opportunity to service more customers who may not […]
Credit Card Debt at $1 trillion!!
“If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.”- John Keynes That’s right, America. We have now surpassed $1 trillion in collective credit card debt. In the words of the 1970’s band Kool & the Gang, “Celebrate good times, come on!” So, unemployment […]
Keep Money in Your Pocket: Why Customer Retention Systems Matter
Lenders often operate in a competitive industry, where acquiring net new customers seems like the ultimate goal. However, what they often overlook is the immense potential of customer retention. Your existing database of customers may hold the key to unlocking unprecedented levels of growth.
Understanding the Fair Credit Reporting Act (FCRA) and Its Implications for Businesses
In this article, we will explore the ins and outs of the Fair Credit Reporting Act (FCRA) and its implications for businesses who offer credit to their customers.
The Future of Digital Banking and Online Banking Security
Digital banking and online banking have become increasingly popular in recent years, making it easier for consumers to manage their finances on the go. However, as the use of digital banking platforms continues to grow, so too do the security risks. In this blog post, we will explore the current state of digital banking security, […]
Mitigating Risk within the Consumer Lending Sector
Learn how to manage risk and protect profitability in the consumer lending sector by performing thorough credit checks, developing loan policies, educating consumers, setting loan limits, and utilizing automated data analysis. Get essential strategies for effective risk mitigation.