Events

The EY Future Consumer Index shows that nearly 60% consumers have changed the way they bank due to the pandemic. As the initial crisis measures to respond to the COVID-19 pandemic begin to slowly ease, banks and other financial services companies are examining the lessons learned from the adaptions in the recent months. Bank employees started working from home, new regulatory requirements such as moratoriums and restructuring of loans had to be complied with and customers migrated towards digital interactions. Technology was at the core of sustaining critical business activities and catering to evolving business needs. Looking forward, the areas of focus for the banks will be to serve customers better, through the preferred contactless channels, with tailored and relevant products and services; and build more resilient and agile processes through a holistic transformation approach rather than focusing just on the front-end.

Banks and other financial services companies have been working on their digital transformation journeys due to the benefits it offers for both consumers and FIs – this crisis has accelerated the transition and made it more natural. In this webinar, our experts will share insights on streamlining and automating the servicing processes, faster compliance with regulatory requirements such as loan moratoriums and restructuring, and encouraging digital adoption across channels.

Key points to be covered in the webinar-

• Offering flexibility in loan servicing across repayments, customer segment  and lines of business
• Restructuring loans and offering moratoriums as per varying regulatory norms and customer needs
• Facilitating digital loan servicing through the preferred channels
• Enhancing customer communication and engagement across the lifecycle

Click here to watch the on-demand version of this webinar.

Customers today seek quick, easy and digital access to loans anytime, anywhere. Banks and other financial services companies have rapidly evolved to align with the scenarios emerging due to the pandemic. Digital transformation programs have accelerated to support contactless transactions, rapidly roll out products for emerging customer needs and to reduce operational costs. Lenders today need to offer faster, easier and more secure on-the-spot financing, while quickly launching innovative loan products, conducting comprehensive risk assessments and making data-driven decisions.

In this webinar, our experts will provide insights on how end-to-end digitization can help lenders transform their loan origination across channels, dramatically reduce processing times and cut down the cost of acquisition while minimizing errors and eliminating risks with real time data validation.

Agenda for the webinar:

• Success of digitization initiatives from a customer experience perspective
• Streamlining loan sourcing in a contactless mode
• Driving efficiencies with fully automated application processing
• Launching innovative loan products in minutes

Click here to watch the on-demand version of this webinar.

As countries move past the moratorium period and the focus is back on boosting collections and minimizing delinquencies, innovative approaches to drive efficiencies and minimize credit risk might help. Bain & Company has estimated that COVID-19 will drive the level of NPLs significantly higher than what the GFC in 2008 did. They estimate the increase in NPLs to range from 100-200% in Europe and the US, up to 400% in the UK, and up to 500% in most parts of Asia.

With the pandemic, the collections and recovery at lenders has witnessed many challenges. Lockdowns and the economic slowdown have resulted in businesses being impacted severely due to supply chain disruptions, reduction in customer spending and restricted mobility. This is forcing a shift in consumption behavior patterns as well. Financial Institutions need to not only take cognizance of the environmental factors but also of the evolving consumer sentiments and behavior to effectively execute their collections strategies. In this webinar- Reimagining loan collections in a post Covid world, our product experts will discuss strategies to ramp up collections efforts to quickly recover from the crisis.

Agenda for the webinar-

• Required flexibility and agility in delinquency management processes
• Need for predictive analytics to pre-empt and modify strategy
• Profiting from customer centric approach in collections
• Effective use of digital repayment modes
• Ensuring control and monitoring

The economic challenges posed by COVID-19 have enhanced the lender’s focus on asset-based loans for better risk management. Gold loans, due to their lower default rates as compared to other loan products are being seen as a great opportunity. As per KPMG, Gold loans market is expected to grow at 13.4% CAGR by 2022, making it one of the fastest-growing lending products in India. To convert the Gold loans opportunity into profits, lenders need to increase their productivity by offering faster application processing, swifter approvals and easy accessibility. They also need to have a robust risk management mechanism comprising multiple gold valuations, flexible workflows for valuation and adequate controls for enhanced risk and compliance framework. In this webinar, our product experts will share insights on how gold loan lenders can profit from digitization in gold loans.

Agenda for the webinar- 

• Offer faster and hassle free approvals in minutes
• Streamline processes to bring down operational costs and increase profitability
• Monitor the market value dynamically and modify strategies
• Adopt comprehensive valuations and digital KYC for ensure robust risk mitigation

Click here to watch the on-demand version of this webinar.

Nucleus Software will be speaking at the Australian Mortgage Innovation Summit 2021 (AMIS) virtual event being hosted by the RFi Group. The two day summit is designed to focus on the ever-evolving banking and digital offerings both in Australia and abroad, with an emphasis on innovation. Despite the 2020 recession due to COVID-19, the Australian mortgage market remains resilient. Underpinned by a low interest market, the demand for property is robust. However, new challenges have emerged. Borrowers are now increasingly embracing digital offerings while financial support remains imperative as mortgage deferrals being to ease. It is crucial that lenders understand the changing needs and expectations of both new and existing customers.
 
The 2021 Summit will again bring together local and global experts to discuss the current state of the mortgage market and deep dive into unearthing new opportunities driven by changing regulations, technology, digital transformation and competition with a focus on assistance around managing financial hardship as the industry returns to a new normal. Daragh O’Byrne, Vice President, Global Head of Marketing, Nucleus Software will be sharing his thoughts on how lending is evolving in an increasingly virtual world and how technology can help banks and other financial services companies build personalized relationships, make informed credit decisions and use AI in collections. Topics to be discussed in the event are-

• Current market analysis and future economic forecast
• Managing financial hardship and ‘mortgage stress’
• Technology, innovation and customer experience in the global and local mortgage industry
• Neo Lenders and Fintechs
• Regulatory updates
• Open Banking for the mortgage industry
• Loyalty and refinancing
• Evolution of broker relationships
• Future opportunities and threats

Our experts will be available online to understand your business priorities, share our experiences and help you serve your customers better. To register for AMIS 2021 please click here and schedule a meeting with our experts by writing to us at marketing@nucleussoftware.com

S&P Global states that with the ‘buy-now-pay-later’ (BNPL) market expected to grow almost 400% by 2025, incumbent lenders that still rely on traditional credit cards and cumbersome financing methods are set to lose out to the new age lenders. Though these new age lenders with BNPL models have been able to innovate quickly, the lack of comprehensive credit checks and whether the risk levels are sustainable for the long term is a cause of concern. This is where the banks may have an advantage as they hold massive wealth of data built over a long time with which they can assess risk more reliably. The banks will have to strike a perfect balance between innovation and caution.

Pay later servicing model requires lenders to support various configurations, which can be different for each partner such as interest charging methods, minimum due computations, periodic statements generation and defaults handing. Since this model requires digital offerings, lenders should have robust API packs to integrate seamlessly with third party systems. This model has low ticket size and high volumes, so lenders look for platforms, which are robust, flexible and scalable. In this webinar, our experts will share insights on how financial institutions can quickly develop secure, convenient and completely frictionless BNPL digital loan offerings with comprehensive capabilities and capitalize on the opportunity.

Key agenda for this session would be:

• Pay later product management
• Business models and configurations to support them
• Handling customer billing and periodic statements
• Complying with regulatory aspects such as asset classification and DPD computation
• Leveraging APIs to enhance completely digital experience

Click here to watch the on-demand version of this webinar.

McKinsey estimates that APIs have the potential to unlock significant value across global banking — approximately 50 percent of revenues or 65 percent of profits over the next decade. While some banks are ahead of the curve, the majority have lot of work to do. APIs have become an essential medium that allows for seamless and controlled flow of data between the systems. With open banking facilitating personalized, tailored and connected services, API connectivity has become critical for organizations looking to enhance their customer processes. In this webinar, our experts will share insights on how lenders can unlock the power of APIs, offer Hyper-connected digital experiences and plug seamlessly into the fast-evolving lending ecosystem to streamline their digital processes.

Key points to be covered in the webinar:

• Make contact-less user experience a reality
• Benefit from the power of FinTech ecosystem
• Leverage the power of data in a digital world
• Manage and secure APIs effectively

Click here to watch the on-demand version of this webinar.