2021: The Credit and Loan Collections Future

The crisis  brought about by the ongoing pandemic has been transforming the way people do business, how they structure their lives, and already, 2021 is proving to be the year of the future. LoanCirrus, our cloud-based debtor management system, will transform your loan business by enabling it to remotely process and respond to millions of …

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How Has COVID-19 Changed Consumer Behaviour in the Financial Sector?

If there is one thing this pandemic has done, it’s making it very clear to businesses that if they are unable to do business without a physical location, they’re not fully taking advantage of digital advancements in their respective fields. For Lenders, in particular, the ability to Lend Without Branches, comes with many benefits: Grow loan portfolio …

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Lending Without Branches

A hundred years ago, banks and lenders had to figure out how to get close to people because people were largely sedentary and spatially distant. If you wanted to lend money,  you would better go where people lived, it would have been difficult for them to come to you. Lenders addressed this challenge by building …

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How Lenders Accelerate Their Digital Transformation

Why do Lenders need Digital Transformation? Customer acquisition, “the business of getting new business” [as well as managing and growing the business you already have] is more dynamic than ever  ̶̶  and not just in the current pandemic environment. People’s perceptions of financial institutions have changed largely due to: The influence of social media platforms; …

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6 Ways Lenders Manage Fallout From Covid-19

Are you doing everything your lending business needs to do to manage the fallout from Covid-19? The Coronavirus pandemic poses a fundamental threat to lending institutions, particularly in the Microfinance space. Are you behind your competitors in dealing with this crisis? Find out key strategies and tactics that you may have missed. As an essential …

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This Metric Could Save Your Lending Business!

Everyday I speak with Lenders around the globe and I ask them the same simple question: What does a loan cost you? What is your cost per loan (CPL)? I’m always surprised how many do not have an answer. For most, a loan in any form (Mortgage, Credit Card, Consumer Loan, Micro-loan, Payday loan, Small Business …

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Effective Communication with Borrowers

Have you ever tried waving at a blind person? This is NOT the best way to get their attention. As the business of lending evolves how are you communicating to your borrowers and potential borrowers becomes increasingly important. If you aren’t ahead of the curve, then you will be left behind. Effective communication with clients and potential …

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6 Brilliant Ideas to Grow Your Lending Biz

1. Know your Market If the loans are within a 50-mile radius of your office or a branch, it provides better insights into local dynamics. Integration with the market is key. By investing in verticals that you know and within a market you are familiar with, you are likely to increase your chances of success. …

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Stop Taking Money From Strangers…

As we grow our customer base here at LoanCirrus, we find it necessary to gain deeper insights into whom we are serving. It’s tempting to use the most natural generalization of our customers: ‘we serve lenders’. Many of you who are lenders may say ‘we serve borrowers’. If you are in the restaurant business it …

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How To Collect (more of) Your Money

How do you collect more of the money you lend? Everybody who borrows from you intends to pay you back. Some simply don’t.  The idea is not to eliminate delinquent borrowers. It’s impossible so any attempt is futile. The idea is to manage it and keep it well controlled. Profit in spite of delinquencies. Banks …

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