DecisivEdge is a consulting and technology services provider which recently announced a lending and leasing as a service product; the new product will be powered by Oracle; small and medium sized lenders will be able to leverage the technology; the new offering is hosted in the cloud with 24/7 monitoring and support; Andrew MacDowell, senior vice president of business optimization stated, "The traditional model requires a sizable up-front capital expense to acquire the software and infrastructure, often putting such a solution out of reach for small and medium sized lenders." Source
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In its discussion of how banks can become digital lenders, The Financial Brand provides the above chart; while mobile lending apps are only one aspect of a comprehensive digital lending platform, they are a core feature that customers rely on; the chart outlines the key features customers seek from mobile lending apps with the top features including the capability to lock in interest rates, calculate loan amounts and check an application status. Source
Artificial intelligence is being utilized across all industries with new startups offering innovative market solutions; in January CB Insights released a list of 100 top artificial intelligence startups; Zoox tops the list as the most well-funded company with total funding of $290 million; it is also a fintech unicorn with a valuation of over $1 billion; among venture capitalists, Data Collective has emerged as a top investor partnering with 14 companies from the list for venture capital investment. Source
