Product-Agnostic Lending: Focusing on What the Customer Needs
The old paradigm in banking involved developing a product and turning to life-stage marketing to sell that product to customers.But that paradigm is evolving. Financial Institutions are identifying customer needs and providing solutions regardless of what the product is, rather than hawking a productIn this episode, Ted Krus, Director o f Consumer and Indirect Lending at Flagstar Bank explains the strategy behind taking a product-agnostic approach to product development and customer interaction.We discuss:- Why a product-agnostic approach makes sense- How data is a crucial piece for meeting customer needs- Focusing on the end-to-end customer experience- Managing risk and governance groups during the processResources mentioned during the podcast:- “What’s a Digital Lending Ecosystem and Why Should Banks Care?” by Alex JohnsonTo hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website.Listening on a desktop & can’t see the links? Just search for Leaders in Lending on your favorite podcast player.