We are fortunate to meet dozens of accomplished professionals in banking product design, IT, and engineering. Over and over we hear that their backlog of products, especially in lending, finance, and credit only gets longer as time goes on. Every single one of these professionals would like to develop and deploy these new services faster, but they are constrained by the very nature of their existing technological ecosystems which have evolved over time to be solid and reliable, but often at the cost of being rigid.
Enter the Core Lending Platform
ezbob offers a cloud-based, fully customizable tool for banks and other financial institutions to digitalize their lending journeys from the very simple to the complex. ezbob's platform leverages the experience of over a decade working with Tier 1 and 2 institutions, artificial intelligence, machine learning, and big data to provide a smart, fast, and easy lending experience for both the bank and the customer.
The Core Lending Platform is designed with one objective in mind: to help banks Lend. Better:
- Reduce the time to market: Once the Core Lending Platform is installed, applications can be deployed in weeks, not months, integrated with the bank's existing systems and data sources, using APIs and web services. The CLP puts a premium on the reusability of resources, flows, and integrations. The platform can also be configured and customized according to the bank's branding, business rules, and workflows, using a drag-and-drop interface and a low-code environment.
- Increase conversion rate: ezbob's platform provides a frictionless and engaging customer journey, from application to disbursement. ezbob's platform also offers a dynamic and responsive service, using real-time data and analytics to provide instant decisions, personalized offers, and tailored recommendations. ezbob's platform supports multiple channels and devices, enabling customers to apply and manage their loans online, on mobile, or in a branch.
- Use what you need, re-use what you have: Another of the guiding design principles of the CLP is modularity. Most financial institutions already use technological assets that they like or that would be hard to change. The CLP is designed to embed in that reality by re-using bank assets where possible and adding new capabilities where needed.
- Boost operational efficiency: ezbob's platform optimizes and improves back-end lending processes using data-driven insights, predictive models, and prescriptive actions to enhance the accuracy and consistency of lending decisions. Automating each step is fundamental to streamlining the lending processes, as artificial intelligence and machine learning perform tasks such as data collection, verification, scoring, underwriting, approval, disbursement, servicing, and collection.
Our clients confirm that these features are critical to their digitization processes; ezbob's platform has been successfully implemented by several banks and financial institutions, such as American Express, Metro Bank, Yorkshire Bank, Intesa SanPaolo, and NatWest. ezbob's platform has also been recognized and awarded by various industry bodies and publications, such as Finovate, Celent, Banking Technology, and The Banker.
Conclusion
The lending lifecycle isn’t a series of discrete steps or a collection of features to be implemented one after the other. It’s an all-inclusive, dynamic, and interwoven arrangement of back-end/front-end processes and features that need to serve both the bank and its clients. To survive and thrive, banks need to modernize their lending mindset with a core lending platform. This is a strategic task is certainly achievable with a trusted and experienced partner.
