Technology Advancements and Lending
Lenders are continually updating their technology, eliminating unused or outdated tools, and exploring new ones, including Borrower Monitoring, AI Processing, DPA, and Verification Tools.
Meanwhile, AI companies are teaching robots to perform household chores by paying people to fold laundry in front of them, in an effort to advance robotic capabilities.
Robots and automatic machines aren’t new (the French were cutting edge 250 years ago).
However, with the rise of technology, comes the increase in scams, such as crypto scams at crypto ATMs, which have resulted in millions of dollars lost by Americans, including potential borrowers.
Ben Teerlink, Founder/CEO of MMI, will be discussing these topics and more on the L1 show.
Author's Summary
Lenders update technology while AI advances and scams rise.
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