S8 E12: The Future of Loan Servicing (Live from the Salt Flats)

Sep 25, 2024

In this engaging discussion, Jeff Yim, CFO of Borrowell, offers insights into navigating the Canadian credit landscape. He highlights the importance of stellar onboarding and customer service amidst rising mortgage rates. The conversation delves into proactive loan servicing strategies that foster customer loyalty and create cross-selling opportunities. Additionally, topics include the evolution of flexible payment solutions and innovative approaches to personal lending, showcasing how tailored experiences can transform borrower relationships.

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Intro

00:00 • 2min

Proactive Loan Servicing Strategies

01:40 • 12min

Navigating Canada's Evolving Credit Landscape

13:10 • 15min

Evolving Payment Solutions in Lending

27:57 • 4min

Cross-Industry Insights in FinTech

32:14 • 6min

Simplifying Payment Processing with Integrated Solutions

38:41 • 2min

Fintech DevCon: A Community Gathering for Builders

41:10 • 2min

Choosing the Right FinTech Bank: Security and Innovation Insights

42:43 • 2min

Revolutionizing Personal Lending

44:21 • 17min

Innovating Small Business Banking

01:01:50 • 14min

Navigating Innovation Challenges in Banking and Credit Unions

01:16:16 • 2min

Revamping Loan Servicing Strategies

01:17:58 • 18min

Welcome to a special edition of the Fintech Takes podcast. I'm Alex Johnson, here with Colton Pond, Chief Marketing Officer at LoanPro.

We’re recording live from the Salt Flats outside of Salt Lake City during LoanPro's customer advisory board meeting. I’m excited to dive into one of my favorite topics—loan servicing—and co-interview a few attendees with Colton.

In this episode, we’ll consider what happens after a customer says “yes.”

First up, we speak to Jeff Yim, CFO at Borrowell, one of Canada’s largest fintechs, helping 3.5M members navigate credit. In a landscape shaped by rising mortgage rates, Jeff speaks to how stellar onboarding and customer service are essential for a competitive edge.

Next, we chat with Jared Jones from Moov, a payment platform that’s evolved into both an acquiring and issuing processor. As ACH payments decline, they offer competitive fixed interchange rates for debt repayment, focusing on user-first innovations.

Then Nick Pesce from Happy Money, dedicated to unsecured personal loans in partnership with credit unions, shares how they’re scaling to meet demand for flexible loans, leveraging personalized approaches and credit union partnerships as credit card debt hits record highs.

That’s followed by Kamal Rajan and Anthony Navarro, who are building business banking at Golden 1 Credit Union, one of the largest credit unions in the U.S. They reveal how they’re overcoming legacy challenges as they prep to launch ten new products.

Raising the standard of quality for embedded finance infrastructure, Newline™ by Fifth Third is an API platform that enables enterprises to launch and scale payment, card and deposit products directly with Fifth Third Bank.

Learn more at newline53.com

00:10:34 - Jeff Yim, Borrowell

00:24:42 - Jared Jones, Moov

00:41:43 - Nick Pesce, Happy Money

01:00:00 - Kamal Rajan and Anthony Navarro, Golden 1 Credit Union

01:15:54 - Greg [undisclosed]

Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/

And for more exclusive insider content, don’t forget to check out my YouTube page.

Follow Colton Pond:

LinkedIn: https://www.linkedin.com/in/colton-pond-469b11ba/

Follow Alex:

YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos

LinkedIn: https://www.linkedin.com/in/alexhjohnson

Twitter: https://www.twitter.com/AlexH_Johnson

Companies featured:

https://www.loanpro.io/

https://borrowell.com/

https://moov.io/

https://www.golden1.com/