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WHITEPAPER
Bridging the digital gap in the banking industry: Overcoming data security challenges
Discover the transformative potential of financial data aggregation in the modern banking sector through our whitepaper. Learn how to connect financial institutions with fintech applications, while exploring solutions for a single and secure view of borrowers’ financial data.
Financial data aggregation holds tremendous potential for connecting financial institutions with fintech applications in the modern banking industry. However, fragmentation in the United States banking industry means data can come from thousands of different banks, credit unions or other financial institutions, posing a challenge for lenders seeking a single view of borrowers’ financial situations.
And with 42% of end-users expressing discomfort in sharing bank account credentials with third parties for direct account connections – this potential could be stunted.
Learn how to bridge the digital gap in banking in our whitepaper.
Takeaways
The need for standardized data in lending
Analytics’ role in the lending decision-making process
Maximizing conversion rates with Ocrolus’ document + digitization approach
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