Can Nontraditional Credit Analysis Be Community Banks' Path to Profit?
by Jo Ann Barefoot and Melissa Koide
In many smaller American towns banks are finding usual sources of loan demand dwindling - and that was before the COVID-19 recession. Community banking institutions may find trouble if they market their credit services further afield. The solution may be to dig deeper for loans in the communities they already know, marketing loans to be evaluated with new alternative data sources (like some fintechs do). Click HERE
to learn more about how the sound use of digital age technologies could open a new era of fair, inclusive and sound lending that could benefit millions of consumers, and their local financial providers as well.