Managing an SME lending portfolio can be a challenge, with the cost to serve a major concern of most retail banks servicing the sector. A large number of small businesses offer significantly less value and information than their larger, corporate counterparts. Reliable and timely financial account information is not automatically available for the majority of them - the supply and auditing of this information placing a burden on both the proprietor and lender.
Automating the lending process can significantly reduce overheads while managing risk, improving acceptance rates at the same time. Not only that, the time between application and approval can be reduced to seconds rather than days or weeks. Staff are able to concentrate their efforts where they need to, rather than over-analysing new and existing clients that are automatically assessed as credit worthy and fit the profile of the lenders target market.
At Experian, our products and services have been developed specifically to address these challenges. We are able to provide you with leading technology, training and consultancy services to enable you to develop lending strategies that maximise the return you can get from the SME segment.
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