Cross-Selling Opportunities in Digital Lending
- Date:November 18, 2020
- Author(s):
- Austin Kilgore
- Report Details: 13 pages, 4 graphics
- Research Topic(s):
- Digital Lending
- PAID CONTENT
Overview
From insurance and payment assistance programs to credit cards and deposit accounts, ancillary products that either support consumer loans or complement them help lenders provide a better borrower experience and increase revenue. This report examines the most popular products offered in cross-selling, as well as the strategies lenders need to use to incorporate them into the lending process. It also assesses consumer expectations about how products are marketed and sold.
Key questions discussed in this report:
- How can lenders successfully cross-sell to existing customers and new prospects?
- What are the most pressing changes to the cross-sell dynamic for lenders and consumers?
- What risk is involved, and how can it be mitigated?
Methodology
Consumer data in this report was collected via an online survey fielded in April 2020 of 1,000 consumers who obtained one or more mortgage, home equity, auto loan, lease, or subscription financing product on or after January 2018.
Learn More About This Report & Javelin
Related content
2025 Digital Lending Trends
The pressure will mount in 2025 for traditional lenders and the vendors that serve them to make foundational strides in using digital channels to win share of mind that leads to sh...
Earned Wage Access: How Banks Can Do Better for Workers Facing a Cash Pinch
The Consumer Financial Protection Bureau dealt fintechs focused on earned wage access a blow when it issued an interpretive ruling that their products will be considered loans subj...
Embedded Lending: Banks Get a Second Chance to Stake a Claim
A market scan by Javelin Strategy & Research found that few banks and credit unions are active in embedded lending, leaving fintechs such as Affirm, Afterpay, Apple, Klarna, and Pa...
Make informed decisions in a digital financial world