Digital Transformation in Lending: Progress & Potential

In today’s rapidly evolving financial landscape, institutions must embrace digital transformation to stay competitive. This infographic draws from the 2024 State of Digital Lending Report by MeridianLink^®, revealing where the industry stands and the challenges that remain. Institutions that adopt modern partner solutions are better positioned for growth, compared to those relying on outdated methods.

Topics covered in the infographic:

Adoption of web-based loan applications.
Mobile application process availability among institutions.
Decline in online loan completion rates.
Impact of incomplete digital experiences on revenue and borrower abandonment.

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About MeridianLink^®

At MeridianLink^®, we connect all sizes of financial institutions and fintech companies to better technology, better service, better people, and better solutions to streamline experiences so your members and customers can live better lives. We solve complex problems with powerful yet practical solutions. Since the beginning, we have been a leader at adapting to change with unique, industry-first solutions. We meet opportunities head-on with innovation and drive. Our passion for excellence is reflected in our cloud-based digital lending, new account opening and deposit, and credit reporting solutions.

This magazine takes you directly into the future!