Modernize or Die!

Beyond Legacy Systems: The Dynamic Shift to a Modern LendTech Core

NEW LendTech Series, ACCRUED

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Accrued, is a Fintech Confidential Series on LendTech, with support provided by LoanPro

This series will explore Fintech through the lens of Lending with conversations with those making decisions that shape the market.

We will cover the impact of Compliance, OPtimization, the need for modernization, and the growing demand for Personalization

Tedd Huff

This inaugural episode of Fintech Confidential's 'Accrued' series on LendTech, with host Tedd Huff and co-host Colton Pond, engage in an exciting conversation with Rhett Roberts, the visionary co-founder and CEO of LoanPro, a company at the forefront of lending technology innovation. This discussion winds through the historical evolution of lending, the indispensable role of compliance in the financial sector, and the transformative impact of technology on the lending landscape.

Key Highlights:

  • The Evolution of Lending: Journey through the millennia-long history of lending, understanding its origins and how it has been shaped by regulatory and technological advancements.

  • Compliance as the Backbone of Trust: Digging deep into the critical role of compliance in lending, ensuring consumer protection and fostering industry trust.

  • The Revolution of Lending Technology: Explore how technology is pivotal in navigating the complexities of compliance and enhancing lending processes.

  • Challenges and Opportunities in Modernization: Discuss the imperative of modernization within financial services to achieve operational efficiency and cater to evolving customer needs.

  • The Shift Towards Outsourcing Security: Examine the trend of financial institutions outsourcing security to protect sensitive data more effectively.

  • Cloud Technology as a Catalyst for Innovation: Discover how cloud adoption drives modernization and personalization in financial services.

  • Personalization in Lending: Uncover the potential of personalized data and transaction-level credit in creating customized financial products for improved customer experiences.

Takeaways:

  • The lending industry's complexity necessitates a deep understanding of both compliance and technology.

  • Modernization, driven by technology, is essential for operational efficiency and fulfilling customer demands.

  • Personalized lending solutions, enabled by modern technology, offer a pathway to more tailored and effective financial products.

  • A Lending Core, like LoanPro, provides a starting point for financial organizations to grow their business at scale.

LoanPro

Fintech Confidential

Support is provided by:

LoanPro - As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io to learn how 600+ financial organizations have modernized their tech stack with LoanPro.

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And

HAWK:AI - HAWK:AI's game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.

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Time Stamps:

00:00: Introduction to Fintech and Lending

09:26: The History of Lending

18:35: The Role of Compliance in Lending

24:44: The Importance of Lending Technology

28:22: Optimization and Efficiency in Lending

35:02: Modernization Challenges in Financial Services

35:32: Legacy Infrastructure as a Challenge

36:21: Importance of Ease of Integrations and Conversion

36:41: Shift towards Outsourcing Security

37:01: Cloud Adoption and Modernization

39:09: Personalization as a Result of Modernization

39:59: The Potential of Personalized Data

40:08: Transaction Level Credit and Personalization

40:32: Exciting Future of Financial Services

This is a Production of Diamond D3, Media

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ABOUT The Guest:

Rhett Roberts: With an education in investment finance, Rhett was bound for Wall Street, but instead, he decided to bring his unique skills to the software world. With nearly 20 years of experience building businesses, Rhett co-founded LoanPro, a modern lending platform for lenders to manage their loan accounts. An avid swimmer, entrepreneur, and problem solver, Rhett also serves as a board member of the FinTech Committee at the University of Utah.

LoanPro: LoanPro is a core lending software specializing in servicing loans. It powers financial innovation by giving users the tech they need to bring their lending innovations to life. Built on its API, LoanPro unites with its users' existing software while encouraging powerful integrations and unifying all aspects of the loan lifecycle in a single source of truth.

About the Hosts:

Tedd Huff is the Co-Founder of Voalyre and the President & Founder of Diamond D3, a consultancy renowned for its expertise in global payments and marketing. With over two decades of experience in FinTech, Huff has played a pivotal role in shaping the industry through his contributions to various startups and established companies, focusing on growth, innovation, process improvements, and enhancing user experience in the complexity of payments.

Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.

Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

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