The industry challenge
With substantial margins available, the Small and Medium Enterprise (SME) lending market attracts both traditional and non-traditional lenders, with new entrants making this dynamic market more competitive. As a result, lenders have an increasing pressure on returns and are focusing on reducing operational costs to preserve profitability.
The key challenge for SME lenders is how to balance service, cost and income when making decisions. SME lenders have learnt from the advances in technology and approaches used in the consumer sector and are seeing a significant uplift in operational efficiency through automation.
The answer
Experian's proposition meets the challenges faced by SME lenders, with rapid and comprehensive decisioning automating and streamlining the SME assessment and management processes. This enables organisations to automate key parts of the customer process, freeing skilled business managers to concentrate on higher value cases, value added activities and customer service. Experian also helps meet regulatory issues, offering integrated products and services that tackle fraud and help achieve profitable compliance for Basel II.
