Last weekend, my friend and I had the following conversation –
My friend – Are loan conversions increasing with the popularity of digital lending?
Me – Laughed! No, I don’t think so.
My friend – Why?
Me – #Doyouknow the loan conversions are as low as 3% in this digital lending process?
My Friend – What?! (in a doubtful way) But Mani, You stress that #digitallending is the future! Then, what’s the solution?
Me – The solution to making more loan conversions with digital lending is to offer freedom to customers with abundant options to choose from. The catch is more than just customer-centric products, tailored services, or focus on their journey.
A promising product, service, or cutting-edge technology will only fix things if the customer experience is taking center stage.
Conversion magic happens when you streamline your communication channels and reach out to your customers when they need you.