One essential system that lenders rely on is the five C’s of credit. This system plays an important role when it comes to qualifying loans. The five Cs serve as a valuable benchmark that financial institutions can use to score a borrower.
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In today’s digital age, smart contracts guarantee a new way of doing business. Maintaining compliance, data accuracy, and legitimacy is essential in almost every major industry. Smart contracts are starting to catch on as businesses realize the immense potential they have.
The mortgage industry is slow to adapt. We’ve been relying on the same outdated processes and systems for years.
The mortgage industry continues to grow as more and more Canadians are looking to purchase homes. But despite this rapid growth, the mortgage industry is still lagging and is slow to adopt new technologies like automated underwriting software.
Recent shifts in banking trends and innovations have redefined the landscape for the financial sector, and no new development has been more impactful than that of the neobank.