Social Media Trends for the Financial Services Industry

Social media offers a host of benefits to the lending sectors and it brings tangible opportunities to the lenders. As credit underwritings evolve and while credit standards advance with the economic cycles, the credit underwriting process largely remains the same. While factors such as salary, job history and credit score servings would remain the core of credit decisions, the array of data with the potential to provide accurate risk scoring and better evaluation is available using social media.

The LTP report on the US social finance market talks about the benefits and advantages of social media in the finance industry for SME len ...

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