In today's rapidly evolving financial landscape, small and medium-sized enterprise (SME) lenders face a transformative challenge. Competitive pressures from both traditional market players and innovative newcomers, elevated customer expectations, and the unprecedented opportunities brought by advances in data technology and analytics have necessitated a radical reshaping of credit decisioning processes. In a recently published article, Jared Chebib, Partner, Financial Services Consulting at EY, delves into the complex world of contemporary SME lending and shed light on the key drivers and principles that underpin the next-generation credit decisioning framework.
He deals successively with the forces driving credit transformation, the key design principles for next-gen credit decisioning and the success factors for a rapid transition.
Read the article to find out more about the unique opportunity that SME lenders have to embrace the future of credit decision-making by leveraging technology, data, and streamlined processes.