Consumer lenders are investing considerable resources to figure out how best to target prospective borrowers and provide them with the most efficient and enjoyable experience possible. To do this, these lenders reach consumers the moment they have a credit need with the right message, at the right time, and through the right communication channel. Once consumers become customers, the lender can provide them with frictionless and speedy loan originations. These processes are driven by investments in analytics and technology platforms that allow lenders to anticipate a consumer’s needs, understand communication preferences, and provide near-seamless interactions.
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I love Zelle! In fact, I was one of Zelle’s earliest adopters in the days when it was clearXchange. In my opinion, being able to send payments to another person from my bank account using my mobile phone is the best invention since sliced bread and online banking (which eliminated the need to ever balance a checkbook again). Every time I need to pay someone, I try to use Zelle. And I really am a brand evangelist for Zelle—not only do I spend my days researching and writing about the person-to-person payments market in general, but I also tell all my friends and family to give Zelle a try. I believe Zelle is the future of cash, because sending and receiving digital payments using a bank account for free and in real time is the same thing as handing someone a bunch of dollar bills.