Despite the past 12 months being challenging for many reasons, there has still been a range of encouraging trends in the financial services world.
One of these is the emergence of Lending 3.0.
In this latest version of finance — driven, of course, by digital technology — lenders now have the power to bridge the gap between lending and payments.
The result is a more intuitive, personalised experience for borrowers and a host of exciting new opportunities for lenders.
As part of Marqeta’s mission to help more innovators take advantage of Lending 3.0, we’ve partnered with the brilliant team at Fintech Talents for a very special event on this topic.
Taking place virtually on Wednesday, February 24, FTT Lending 3.0 features a raft of industry VIP speakers, including Starling Bank’s Anne Boden, Metro Bank’s Andy Piggot, and Marqeta Managing Director Ian Johnson.
Ian will talk about the journey lending has been on during the past decade or so, describing how the financial crisis marked the end of Lending 1.0 and heralded a new generation of digital pioneers under Lending 2.0.
In recent years, lending has experienced huge advances in terms of speed of decisions and loan agreement flexibility.
However, we believe the lending innovation jigsaw had been missing one vital piece. Until now.
Thanks to Lending 3.0, lenders can now have more visibility into and control over loan and credit spending.
By knowing what borrowers are doing with funds, finance providers have greater scope to flex APRs and create more personalised solutions based on behaviour.
Additionally, B2B innovators who incorporate a modern card programme into their proposition may be able to generate new revenue from interchange fees.
This in turn can lead to improved customer loyalty and more effective risk management.
Ultimately, what Lending 3.0 delivers is an intelligent funding journey for both consumers and SMEs. This is something Ian will cover in detail on Wednesday, along with how payments can become part of the finance process to aid business cash flow.
For these reasons, Marqeta is championing Lending 3.0, as well as simultaneously developing the tools that we believe will prove pivotal to the next generation of finance providers.
If you’re planning to attend FTT Lending 3.0, Marqeta’s white paper on this topic may prove useful.
Further information about the FTT Lending 3.0 online event on Wednesday, February 24 can be found here. We look forward to seeing you there.