Over the last several decades, the commercial lending industry has seen significant transformations. Gone are the days when you had to do all financial transactions in person at a bank or keep all your financial records on paper. Solutions like our Lending Intelligence Tool enable lenders to prospect more efficiently, process loan applications faster and handle other customer queries swiftly and with little human intervention.
By using smart and adaptable technologies, new business teams can now spend more time focusing on seeking new opportunities. Ultimately, this means that finding the right prospects becomes faster, involves less risk and enables them to provide more customised products to better-qualified prospects.
The importance of comparing yourself to your competitors
Before you can start, you need to understand who your competitors are. But how do you do this? The best way to determine if another business is a key competitor you need to ask yourself:
- What types of facilities are they providing?
- Are you targeting similar audiences?
- Are they operating close to you?
You’ll have the competitors you typically think of locally and the ones covering larger regions (including your own), if not the whole country! So why not be aware of what they are all doing and where?
With our Lending Intelligence tool, you can find out who is lending to whom, where and since when; you can also search by the lender, type of charges, turnover, industry, region, year of charge registration and potential renewal month.
Original Source: https://bit.ly/3MM8KIu
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