National Mortgage News: 3 Shifts Retail Lenders Can Make for Success in Direct-to-Consumer
Total Expert Director of Technology Alliances Josh Lehr was featured in National Mortgage News to share three ways retail lenders can appeal to borrowers and deliver the experience they desire.
The world was pushed online last year, and there’s a reason businesses are staying there. As millennials and Gen Z position themselves to obtain 25 million new households by 2028, appealing to these tech-savvy generations should be a top priority for retail lenders. This means a new focus on convenient, efficient — and even enjoyable — borrower experiences.
Borrowers are getting this more digital, convenient experience from direct-to-consumer lenders. To remain competitive, retail lenders must become competitive in the DTC space. Here are three actions you can take to stay relevant and successful.
1. Tailor communications to the channel
The DTC borrower experience is vastly different from the retail experience. The way lenders communicate with DTC borrowers, therefore, should also be different. Sending the right message to the right customer at the right time is key to tailoring communications to the borrower’s preferred channel.
Read the full article on nationalmortgagenews.com.