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Charting New Value for Digital Lending with AI

Publisher IDC
Published Jun 28, 2024
Length 7 Pages
SKU # IDC18930917

Description

Charting New Value for Digital Lending with AI


This IDC Market Perspective analyzes the impact of AI on digital lending in Asia/Pacific, revealing a transition toward data-centric approaches across the processes and functions in the entire digital lending value chain. A significant emphasis is placed on using alternative data for credit scoring, enabling banks to cater to underserved segments, such as small and medium-sized enterprises (SMEs). Real-world examples, including an automated credit underwriting system and the strategic use of alternative data banks, advise banks to strengthen digital infrastructure and embrace AI for long-term gains in digital lending."These have been a very impressive set of capabilities in digital lending, thanks to the continuous improvement in technology investments particularly around AI. Among all the improvements, the development of speed to decision making is huge. Banks in the region should gear toward a more data-driven approach, automating the credit underwriting to achieve faster loan processing and greater customer satisfaction," says Xiao Liu, research manager, IDC Financial Insights Asia/Pacific.

Please Note: Extended description available upon request.

Table of Contents

7 Pages
Executive Snapshot
New Market Developments and Dynamics
Capabilities of BDA and AI in Lending
Implementing an Automated Credit Underwriting System for a Best-In-Class CX
Use of Alternate Data in Lending
Designing Preapproved Programs for Unsecured Lending with Alternative Data
Alternative Credit Scoring Model for Effective SME Lending
Advice for the Technology SUPPLIER
Learn More
Related Research
Synopsis

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