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Manual processing against the digital world 📕🌏 The lending industry has evolved in numerous ways one can imagine, and with the digitization of almost everything, people still wonder, "Why is it taking too long to approve my loan applications?" The continued use of manual processes like printed forms and manual loan processes has hurt numerous businesses. Most businesses kept a paper-based approach, where it is said that US companies lose over $120 billion annually on printed forms that go outdates in 3 months. This inefficient system, along with the long, manual loan application process, has made 49% of borrowers to find the application process difficult. Due to the poor customer experience received by borrowers from manual processes, it's high time for businesses to learn and adapt technology and automate parts if its process bit by bit, including the data verification section of loan applications. Smile API gives businesses access to recent, verified, and comprehensive data about their borrowers. This is especially helpful in verifying data submitted in the loan application process, as well as fact-checking other relevant information. #SmileAPI #FinTech #FintechNews #OpenFinance #APIprovider #fintech #fintechNews #latestFintech

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