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Renewed Lending Starts With Good Information Management
Lending institutions need every bit of information on every loan.
By
John Jay, Senior Analyst, Aite Group (Boston)
March 04, 2010
Now more than ever before, lending institutions need every bit of information on every loan. In this new world, it's a matter of getting all information -- not only the creditworthiness of the borrower, but also the ongoing performance information on that borrower. It's also essential to get a clear picture of the mortgage banker, for instance, to determine if there is any sort of malfeasance in his or her ledgers. Technology can help monitor his or her origination behavior.
Technology that helps banks keep track of the right data will be essential going forward. Technologies that help aggregate information and break it apart already have become exceptionally important today. Aggregating data may point you in a direction, whereas breaking apart data and making it more granular may reveal the actual drivers of current activities.
If banks are managed well, achieving regulatory compliance will not be a problem. Fraud will happen, but if you have clear guidelines in place and monitor your activities sufficiently, it will not be difficult to comply with regulations.
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