The February 2023 Aite-Novarica Group report examines how U.S. lenders are adapting to shifting consumer preferences, with speed and ease of loan approval now outweighing rates and fees. Most lending executives recognize that simplifying the loan process from application to funding is key, making improved customer experience their top short-term priority. Over the next 12 to 24 months, 88% will focus on enhancing loan origination, a complex undertaking requiring significant digital investment. Nearly half see partnerships with fintechs as essential to boosting capabilities, signaling a collaborative approach to meeting evolving borrower expectations.

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