How Alternative Data is Transforming Lending
As traditional credit scoring methods face increasing scrutiny and limitations, alternative credit data has emerged as a powerful tool for lenders looking to expand access to credit and drive profitability. In this special mini-series on the future of lending, sponsored by LoanPro, the Banking Transformed podcast is excited to welcome two industry leaders: Warren Hogarth, Co-Founder & CEO of Empower, and Colton Pond, Chief Marketing Officer at LoanPro. Our guests explore examples of alternative credit data points, the evolution of underwriting processes, and the regulatory considerations surrounding the use of non-traditional data. Warren also discusses Empower's recent acquisition of Petal Card and the future of credit, while Colton offers insights into the shifting focus from debit to credit products in the fintech space. This episode of Banking Transformed Solutions is sponsored by LoanPro LoanPro is the leading modern lending and credit platform enabling lenders to innovate quicker, driving growth while optimizing efficiency. Over 600 lenders use LoanPro to enhance their borrower, agent, and back-office experiences. LoanPro’s mission of providing the platform to innovate the future of finance is enabled through its composable architecture, allowing lenders to enhance their origination, servicing, collections, and payments, all supported by a modern lending core. https://www.loanpro.io/