‘The future of lending’ webinar: Episode 3 with Warren Hogarth

Hosted by Jim Marous, a leading authority in the fintech and banking industry, and Colton Pond, LoanPro’s CMO, ‘The future of lending’ is an insightful three-part webinar series exploring the future of lending with industry experts.

Episode three features Warren Hogarth, co-founder and CEO of Empower, where he discusses how lenders can drive profitability using alternative credit data.

Here are some key highlights from this episode:

  • Expanding access to credit: The trio highlights the growing limitations and scrutiny surrounding traditional credit scoring methods, prompting lenders to explore alternative credit data. This shift aims to enhance access to credit and boost profitability.
  • Legacy challenges: Warren contrasts traditional and modern risk assessment approaches, pointing out that traditional banks use rigid models that lack flexibility for unique customer needs, highlighting the need for more modern solutions.
  • Incorporating alternative credit data: As banks and credit unions seek to incorporate alternative credit data tools, the trio recommends utilizing innovation hubs to trial new models and technologies. This approach allows institutions to experiment with innovative underwriting models and data points while effectively managing associated risks.

Interested in learning more? Check out the full episode below:

Want to learn more about LoanPro? Request a demo here.

Recommended blog posts for you

Repossession, and how to avoid it
Industry Insights
Repossession, and how to avoid it

The real challenge in automotive finance is not so much giving a vehicle to a stranger, but getting that stranger to pay you back later. Unfortunately, many platforms are frontloaded with origination tools but offer minimal support during servicing and collections.

Driving growth in automotive origination
Industry Insights
Driving growth in automotive origination

We might talk about consumers ‘shopping for loans’, but whatever credit product they pick, it’s always incidental to the actual goods and services they’ll use it to purchase. Consumers don’t value money in a vacuum; no one is taking out a loan so they can stare at a big pile of cash like Scrooge McDuck.

Building sustainably with a modern credit platform
Industry Insights
Building sustainably with a modern credit platform

When credit platforms fail or go out of business, the providers who use them pay the price not just in fines, but also in a loss of trust from their customers. Providers need a system built on both reliable technology and sustainable business practices, ensuring that the platform will remain operational consistently and continuously into the future.