Keeping pace with technology

The question of “disruption” was raised in the context of technology.  

Personally, I think the word sounds negative, so I opened my online dictionary, which defines disruption as “a disturbance or problems which interrupt an event, activity or process”.

It made me start thinking more widely about disruption and technology and its application to the short-term lending sector. Interestingly, the financial services sector has been an early adopter of technology.

With Glenhawk being a relatively new entrant to the sector, we have been looking at how technology can improve the loan process for both the customer and the lender. The challenge we face as a sector is to provide an effective technological solution to relatively manual and subjective processes, such as underwriting and asset valuation.

The use of automated valuations and automated underwriting processes is often raised and dismissed without due consideration. We think it’s important to be open minded and flexible in order to embrace change, technological advances and borrowers’ expectations.

At Glenhawk, we continually look at how we can improve, measure risk and deploy technology appropriately. We review our practices and processes and seek feedback from stakeholders as to how loan applications, valuations and the underwriting process can be enhanced and expedited.

We are investing heavily in building a bespoke CRM and loan book management software solution with the aim of providing a fast and frictionless lending journey for our clients, brokers and investors.

We view data capture, analytics and loan book management as key factors for a lender in an incredibly competitive space in order to build a diverse and well-managed platform.

The sector must keep pace with change as today’s technophile students are tomorrow’s investors and borrowers.