Online lending – Forum Della Magia Sat, 11 Jun 2022 19:30:00 +0000 en-US hourly 1 Online lending – Forum Della Magia 32 32 Ready in digital mode Sat, 11 Jun 2022 19:30:00 +0000

Today, the scenario is rapidly changing, where, among other things, the systems and procedures that govern the banking system are undergoing a transformation, with technology playing a crucial role.

In other words, with the advent of technology, banking services have witnessed a dramatic reach where customers now avail products and services at the click of a button, without physically going to bank branches.

However, the lending system has not fully adapted to the power of technology. Despite having appropriate technology in place, banks did not promote digital lending systems and continued to rely on traditional systems to process loans.

It was only after the outbreak of a coronavirus-induced pandemic that left banks with no choice but to fully integrate technology into their operations. Today we can measure that the impact of COVID-19 on the financial system has been enormous.

Changes triggered by pandemic-induced closures, closures and mobility restrictions to curb the spread of the virus have been behind the growth of all types of finches which, among others, include one of the operations essentials of the banking system – lending.

During the more than two-year period of the ongoing pandemic, lending is changing rapidly on the digital platform. Today, digital lending has become a buzzword in the banking system as people have quickly become immune to digital transactions, where they physically avoid going to their bank branches and prefer cashless transactions.

Eastern Bank honors community loan fund: Seacoast business news Thu, 09 Jun 2022 16:50:54 +0000

New Hampshire Community Loan Fund honored with Community Advocacy Award

BOSTON, Mass. – The Eastern Bank Foundation announced that the New Hampshire Community Loan Fund was the recipient of the 2022 Community Advocacy Award for its pioneering efforts in providing loans, capital, training and technical assistance that help New Hampshire businesses and people Hampshire to achieve economic stability. Founded 38 years ago as a community development financial institution, the Community Loan Fund helps New Hampshire residents access affordable housing, secure jobs and quality child care, and has reached 170 cities and all New Hampshire counties. The impact reported by the Community Loan Fund includes more than $400 million in loans and the creation or preservation of more than 10,800 affordable housing units and 3,900 jobs.

“For decades, the New Hampshire Community Loan Fund has laid the foundation for many people to thrive in New Hampshire by extending the reach of conventional lenders and public institutions and bringing people and institutions together to solve problems,” said Nancy Huntington Stager, President and CEO of the Eastern Bank Foundation.