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Business Reporter: The rapid evolution of Lending as a Service (LaaS)

LONDON, LONDON, UNITED KINGDOM, May 25, 2021 /EINPresswire.com/ -- The pandemic has driven a rise in regulatory complexity as well as an increased need for financial inclusion; LaaS leader Vervent is well placed to respond to these trends.

In a video published on Business Reporter, David Johnson, CEO and Founder of Vervent, discusses the future of consumer credit. Mr Johnson explains how the pandemic created challenges in the financial services sector and why Vervent thrived as a result of these challenges. Their strategy has been to focus on keeping their employees financially healthy and whole while doing the same for their clients.

As we come out of the pandemic, Mr Johnson believes that capital markets are functioning smoothly. At the same time, however, there is a rise in the requirement for credit, especially in underserved markets and Vervent is addressing this pressing need for greater financial inclusion.
Mr. Johnson adds that consumers want a one-stop shop for finance which is evidenced by the rise of challenger banks. Vervent’s recent acquisition of Total Card (now Vervent Card) allows the company to provide a complete breadth of services, including Loan & Lease Servicing, Call Center Services, Backup Servicing/Capital Markets Support, Credit Card Servicing, and Card Marketing & Customer Acquisition

From a B2B perspective, as economies recover from the effects of the pandemic, there is also a need for better and more transparent portfolio management. Without professional management, poor customer experience, as well as poor returns, are the typical results. Vervent’s portfolio management services mean that their business partners have the bandwidth to focus on their core competencies.

In addition, the financial services sector is seeing an increase in regulation and consequent reputational risk. With regulatory oversight increasing in both volume and complexity, compliance is more critical than ever. Vervent’s proprietary technology enables this, by ensuring complete credit risk oversight and increased data security.

To learn more about the evolution of lending as a service, watch the video.

•• About Business Reporter ••

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.

www.business-reporter.co.uk

•• About Vervent ••

As one of the pre-eminent Lending as a Service (LaaS) companies, Vervent sets the global standard for outperformance by delivering superior expertise, future-built technology, and meaningful services that are built for speed. Our solutions empower companies to accelerate business and drive compliance. Accelerate with us today at 888.486.2509 or Solutions@Vervent.com.

•• Sources ••
https://business-reporter.co.uk/2021/05/12/vervent-financial-services-from-a-lending-as-a-service-leader/

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