‘The future of lending’ webinar: Episode 3 with Warren Hogarth
Hosted by Jim Marous, a leading authority in the fintech and banking industry, and Colton Pond, LoanPro’s CMO, ‘The future of lending’ is an insightful three-part webinar series exploring the future of lending with industry experts.
Episode three features Warren Hogarth, co-founder and CEO of Empower, where he discusses how lenders can drive profitability using alternative credit data.
Here are some key highlights from this episode:
- Expanding access to credit: The trio highlights the growing limitations and scrutiny surrounding traditional credit scoring methods, prompting lenders to explore alternative credit data. This shift aims to enhance access to credit and boost profitability.
- Legacy challenges: Warren contrasts traditional and modern risk assessment approaches, pointing out that traditional banks use rigid models that lack flexibility for unique customer needs, highlighting the need for more modern solutions.
- Incorporating alternative credit data: As banks and credit unions seek to incorporate alternative credit data tools, the trio recommends utilizing innovation hubs to trial new models and technologies. This approach allows institutions to experiment with innovative underwriting models and data points while effectively managing associated risks.
Interested in learning more? Check out the full episode below:
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