Published: 12 June 2023
The commercial lending process is underautomated, adding to productivity challenges and cost concerns among financial services executives. This research can help product leaders pinpoint automation opportunities globally, and especially in Asia/Pacific where needs are most acute.
Commercial banking leaders care most about portfolio growth, loan portfolio amount, delinquency rate and cycle time in the commercial lending process.
The process steps in greatest need of automation support are underwriting, customer review and approval, and account initiation.
Some of the key technologies commercial banking leaders use to automate the commercial lending process or enable automation are APIs and microservices, conversational platforms, cloud technology, digital process automation, artificial intelligence (AI), and optical character recognition.
Asia/Pacific (APAC) is the region of greatest opportunity for commercial lending automation. This finding is based on the percentage of leaders planning to increase technology
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Analysts:
Financial Services Business Leader Research Team, Christopher Regan, Gladys Yeo
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