The 2019 Digital Lending Review Shows Substandard Efforts at Most Banks and Credit Unions

The annual Digital Lending Review from Digital Banking Report shows that the lending process at many banks and credit unions is antiquated and slow; the majority of consumer loans still require some branch involvement; most digital lending apps from banks and credit unions do not meet customer expectations; the consumer desire for digital lending functionality is grossly understated; 31% of banks allowed the completion of a consumer loan application entirely on a mobile device while that number jumps to 52% for the ability to complete the entire loan process online. Source.