Benjamin Franklin, once said, “When you are finished changing, you are finished.” This is great advice for any of the us regardless of our line of business or the markets we served. However, in lending that rings particularly true.
In my last blog we covered some additional guidance around product strategies for auto decision small business loans. In this final blog, we will cover the long-term requirements to make auto decisioning a sound, foundational piece of your risk management strategy.
In my first blog, we addressed the definition of auto decision and financial institution Culture. The second blog looked at data analysis. We will round out discussion with some additional guidance and the creation of your strategies.