We sat down with Suzanne Homewood, Managing Director, Decisioning Division, Moneyhub at FTT Lending 3.0 to get her view on some of the challenges faced by borrowers.
As she notes, people don’t buy products, they buy stuff that enables them to do what they want to do in their lives. We are surrounded by highly personalised experiences (think social media, google etc) yet the processes that consumers/businesses face when it comes to lending are, in a word, antiquated. The process is confusing, lacking in transparency and is peppered with hard to comprehend language. This leads to adverse outcomes for many customers.
Suzanne shares a lot of great insights on Open Finance and Open Data and how much value it can unlock for all types of providers and their customers, now and into the future as their financial profiles change and evolve.
Personalisation is about creating a product for me, not someone like me.
Listen to the full interview below. It will be 5 minutes and 53 seconds very well spent.
FTT Lending 3.0 is all about creating better products and services for end users and Suzanne’s interview really goes to the heart of that mission.
