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Average lending decision turnaround varies across financial institutions

May 18, 2012 by josephine.munis

The average turnaround time to make a lending decision varies materially between financial institutions.

Institutions with low-level automation are typically less competitive on price due to the higher cost of manual reviews. For customers, it leads to high levels of dissatisfaction, complaints and switching of institutions.

To learn more practical insights and best practices for key areas of business banking and to look at the features of a leading-edge approach to customer management, download the full white paper.

Source: Strategic customer management for business banking portfolios by Experian’s Global Consulting Practice.

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