Customer experience continues to drive digital transformation for financial institutions. The differentiation in experience between institutions leads to more conversion and engagement vs. traditional levers such as rates and fees. Continued demand for digital channels has transformed access to capital by revamping processes, especially loan origination.

 By exchanging a lengthy in-branch process for an online submission and approval, customers are given the opportunity to conveniently submit and track loan applications, and later receive approval from the convenience of their homes.

 The COVID-19 pandemic further pushed forward this revolution for convenience and innovation when social distancing became crucial and had to be woven into business operations. For businesses to remain top-of-mind and relevant, digital channels are a leading factor in retaining customers.

Phoenix International recently formalized a partnership with digital lending platform Loan Cirrus to offer a new and improved customer and loan origination service. Adding this offering to the lineup of our core banking solutions such as a mobile wallet, smart ATMs, as part of our banking as a service offering.

 Phoenix International has a focus on driving financial inclusion and fintech adoption in emerging markets globally. The solutions range from allowing customers to implement all-digital banks to specific channel optimisations and vice versa over time.

The greatest benefit of a digital loan process is that it reduces time and costs associated with traditional loan origination, resulting in a win for both lending institutions and customers. A digital process also provides key opportunities to remain flexible, and to respond to the needs of customers, especially those in emerging markets. We have witnessed a lag in the Caribbean and Latin America where access to fintech solutions is limited.

 It is therefore our mission to ensure that businesses can access transformative and responsive tools, which in turn provides competitive advantage and growth opportunities. A digital loan origination is one of those solutions.

Let your customers know that you hear and understand their needs. Contact us for more information on how you can access the solution.

 If you have other questions about our solutions, email us at solutions@mcsystems.com Your decision today can change your business for the better. Make smart moves and see stellar results.