Smart Lending

Edwin Carlson, CEO of Bitsmart based in USA participates in Risk Roundup to discuss “Smart Lending”.

 

Overview

As we watch technology disrupt nations: its government, industries, organizations and academia (NGIOA), we also see how it is transforming how we, the humans, do things in a digital global age.

One of the fundamental elements of human lives, the way we borrow and repay loans i.e. money, is on its way to fundamental transformation. 

For years, lenders have employed relatively static, tedious and highly complex lending models that lacked focus on consumer interest, experience, preferences or priorities. But today lenders find themselves challenged on all sides of innovations by innovators that are not only customer friendly but also seeking to disrupt their traditional model of lending and its associated processes and businesses.

From crowdfunding to peer-to-peer lenders, the internet, e-commerce and technology has brought transformative opportunities for lending profession and sector.

At the center seems to be artificial intelligence based new software algorithms that price and rate individual as well as business credit. Moreover,thanks to digitalization,  paperless, that is digital processing, seems to have eliminated the slow and tedious pushing of paper between retailer, borrower and lender.

Lending industry seems to have reached a point where simple and seamless financing applications offer loan approval and transparent pricing and terms, right on the spot, within minutes.

In short “lending” is becoming “smart”!

  • So, what does “smart lending” mean for individuals and entities across nations: its government, industries, organizations and academia (NGIOA)
  • How is financial technology transforming lending industry?
  • How is lending today different than before internet and technology? (before AI, big data, blockchain and more)
  • How is big data re-shaping the lending processes?
  • How important is paperless documentation to today’s customer, lenders and lending process?
  • Why is it so important for today’s lenders to be so customer focused and take the burden away from consumers or borrowers?
  • How is real-time processing capability re-shaping the lending and borrowing?
  • How many data points are necessary to make a lending decision?
  • How are borrowers evaluated by algorithms for lending decisions?
  • Do different lenders have different process for evaluating risks?
  • What is smart lending?
  • What are smart lending solution?
  • What are key challenges for the financial institutions that smart lending can overcome?
  • What are the benefits of smart lending?
  • What are smart contracts, and what can we do with them?
  • What is peer to peer lending?
  • What impact does this have on not only banking but the global financial industry and economic system?
  • What types of peer-to-peer loans are available?
  • How is technology and data transforming lending industry?
  • What are the current challenges for the lending industry?

There is no doubt that the world of lending seems to be changing at a rapid pace.  As financial technology (Fintech) startups re-shape the lending industry, it is important to understand and evaluate its impact on not only lending industry, but the overall financial industry and the global economic system.

Time is now to discuss “smart lending” risks!


For more please watch the Risk Roundup Webcast or hear Risk Roundup Podcast


About the Guest

Edwin Carlson, is the CEO of Bitsmart Loans – smart lending for smart people. He is based in United States.

Bitsmart will provide P2P lending for the purchase of assets and secured by Internet-of-things devices and recorded on the blockchain with smart contracts.

About the Host of Risk Roundup
Jayshree Pandya (née Bhatt) is a visionary leader, who is working passionately with imagination, insight and boldness to achieve “Global Peace through Risk Management”. It is her strong belief that collaboration between and across nations: its government, industries, organizations and academia (NGIOA) will be mutually beneficial to all—for not only in the identification and understanding of critical risks facing one nation, but also for managing the interconnected and interdependent risks facing all nations. She calls on nations to build a shared sense of identity and purpose, for how the NGIOA framework is structured will determine the survival and success of nations in the digital global age. She sees the big picture, thinks strategically and works with the power of intentionality and alignment for a higher purpose—for her eyes are not just on the near at hand but on the future of humanity!
At Risk Group, Jayshree is defining the language of risks and currently developing thought leadership, researching needed practices, tools, framework and systems to manage the “strategic and shared risks” facing nations in a “Global Age”. She believes that cyberspace cannot be secured if NGIOA works in silo within and across its geographical boundaries. As cyber-security requires an integrated NGIOA approach with a common language, she has recently launched “cyber-security risk research center” that will merge the boundaries of “geo-security, cyber-security and space-security”.
Previously, she launched and managed “Risk Management Matters”, an online risk journal and one of the first risk publications, publishing “Industry Risk Reports of Biotechnology, Energy, Healthcare, Nanotechnology, and Natural Disasters” over the course of five years. Jayshree’s inaugural book, “The Global Age: NGIOA @ Risk”, was published by Springer in 2012.

About Risk Roundup

“Risk Roundup” is an “integrated strategic security risk dialogue” for nations: its government,  industries, organizations and academia (NGIOA) in cyberspace, geospace and space (CGS).Risk Roundup is released in both audio (Podcast) and video (Webcast) format and is available for subscription at (Risk Group WebsiteiTunesGoogle PlayStitcher RadioAndroid, and Risk Group Professional Social Media).

About Risk Group
Risk Group believes that risk management, security and peace walk together hand in hand. Though security is related to management of threats and peace to the management of conflict, risk management is related to management of security vulnerabilities as well as management of conflict, and it is not possible to conceive any one of the three without the existence of the other two. All three concepts feed into each other. Risk Group believes that the security we build for ourselves is precarious and uncertain until it is secured for everyone across nations. Tradition becomes our security-so if we build a culture of managing risks effectively it will lead us to security and security will lead us to peace!

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