SME Lending – Key Challenges There are many challenges that can make it difficult for SME lenders to rapidly approve loan applications without sacrificing their risk tolerance. In this multiple- choice question, we asked respondents to select the challenges that were currently impacting their business.
SME LENDING CHALLENGES
54%
53%
49%
33%
13%
13%
12%
Making Changes to Processes and Offer ings
Operationalize Ris k Models in Real-Time
Reliance on Technology Vendor
Communication Between Data & Engineer ing Teams
Skills Gap Data Source Integration - External
Data Source Integration - Internal
The challenges fall into three categories: access to data, technology usability, and human resources. Out of all respondents surveyed, over 53% selected data access to either internal and/or external sources as a challenge that prevented improvements to SME lending processes. The second highest response rate was in the technology usability category, with the ability to operationalize risk models, make changes to processes, and reliance on vendors holding back innovation. The final category, human resources, saw the lowest response rate, but 13% selected challenges in this category.
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