Kristin Moyer

Last week I wrote that lending needs to become more buyer-centric (see here).  This is really true across banking operations.  While many other industries have had to become more buyer-centric (for example, the travel and broader retailing industries), traditional banking has not made significant progress in this area.

Is there a case that buyer-centricity is “extra” important in lending?

Yes, and there are at least two reasons why:

• Lending was the root cause of much of the current financial turbulence, caused largely by the inability to look outside of process, procedures and internal checks and balances.
• The complexity of lending products and processes is high, levels of transparency and customer-focus are generally low.

Both of these require innovation to address.  I’m working on a research note that will outline what innovations are required.  Back soon.

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Category: operations     Tags: buyer-centric, innovation, lending

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