As members of the lending community, we at LoanPro regularly attend industry events. This past week, we attended the Lendit Fintech industry conference, something we’ve done many times in the past. This year, more than ever, one thing was clear: lending is the future of tech revenue.
Well known companies, some that have been around for decades, are understanding that they can add value to their customers by providing financial products through an engaging, customer-focused experience.
The “Buy Now, Pay Later” concept, which has been around since the beginning of lending, has seen a recent renewal, with an added focus on consumer experience. At LoanPro, we are seeing a strong interest in both point-of-sale financing and SMB lending, with an emphasis on using data and tech to improve a previously poor user experience, by seamlessly embedding financial technology.
As companies choose to monetize their user base by adding a lending product they are asking these questions:
- “Can I sell more products if I offer financing?”
- “Should I outsource lending, or take it in-house?”
- “Will I service my own loans, or let a third party take care of that?”
- “Who can I talk to understand my lending options?”
Andy Morrise, COO
LoanPro.io