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LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

Recent Posts

Take Your Direct Lending Game to the Next Level

After years of record-breaking growth, 2018 looks to challenge auto dealers and lenders with the first significant decrease in auto sales since 2009. Some analysts are even calling for up to a 5% decrease compared to 2017 numbers. As the industry braces for fewer sales in 2018 and beyond, consider how vehicle protection products can make the difference to your financial institution's bottom line and deliver exceptional member value and security for their investment.

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Effectively Communicate with Indirect Borrowers

Indirect loans are becoming increasingly popular in the modern lending landscape. While these products can be great for borrowers seeking the best rates and financial institutions hoping to expand their business, indirect lending also creates a unique set of challenges. Borrowers may never visit the institution they loan from—and oftentimes they don’t even speak to a lender at the institution before signing papers! Even if you never meet your borrowers face-to-face, it is important to maintain the same level of communication and customer service your institution is dedicated to, no matter where the loan originated. Consider these six suggestions to ensure your institution has an effective communication strategy in place for indirect borrowers.

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6 Steps to Seamless Customer Onboarding

With all of the opportunity in the financial services industry, customer onboarding has come up a lot lately. The focus on creating an exceptional introduction to your financial institution is imperative, since having a poor onboarding experience for your customers can pretty much kill your growth…if not your business.

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Engage Indirect Borrowers in 4 Simple Steps

Most financial institutions see the enormous benefits that indirect lending can provide. With little impact on your front line staff, and utilizing much of the back end processes that facilitate your direct lending program, indirect lending can increase your auto loan portfolio significantly and introduce your financial institution to a new crop of borrower. However, turning that indirect borrower’s loan into a full relationship can prove challenging.

How do you make sure indirect borrowers don't view their loans with you as a "one and done" transaction? Here are four steps you can take to capture additional business from your indirect lending borrowers and make them think of your financial institution first when they need additional banking and loan products.

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