The future of consumer small dollar lending? Automated kiosk machines and smart phone apps.
No doubt, there will be continued demand by consumers for immediate cash in their hand, but for B2C small dollar lenders to scale will require their investment in technology, apps, SAS, automated kiosk machines…
Today’s kiosks have the ability to:
- Apply for a loan
- Submit the application including identification scanning
- Underwrite and score the consumer loan application
- Approve/decline the consumer loan application
- Consumer agreement to loan terms and Esignature
- Enable the consumer to receive loan funding via an ACH, debit card, cash…
- Process consumer payments via bank account, EFT, cash, gift card…
No need to lease a location, hire a multitude of employees, and on and on and on… Result? Profits.
The thing is, THE FUTURE IS HERE! Email TrihouseConsulting@gmail.com Subject: “KIOSK”