Borrowers Get Comfortable with Digital Lending

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By Radhika Ojha | The MReport |

What does the Borrower want? To help lenders answer this all-important question, fintech company Fiserv conducted a study to gauge the expectations and experiences of borrowers while looking for a loan or managing their wealth.

Titled “Expectations and Experiences: Borrowing and Wealth Management,” the study found that if it speeds up the process, borrowers were willing to use digital technology. It found that 69 percent of the borrowers surveyed said that they would use mobile to verify identity with security questions, followed by 56 percent who would use it to e-sign loan documents.

The study was conducted for Fiserv by Harris Poll among 3,095 adults aged 18 years and older who either had a checking account with a bank, credit union, brokerage firm, or other financial organization and had used that account to make a purchase in the past one month.

Read more at The MReport.