Product-Agnostic Lending: Focusing on What the Customer Needs

The old paradigm in banking involved developing a product and turning to life-stage marketing to sell that product to customers.

But that paradigm is evolving. Financial Institutions are identifying customer needs and providing solutions regardless of what the product is, rather than hawking a product

In this episode, Ted Krus, Director o f Consumer and Indirect Lending at Flagstar Bank explains the strategy behind taking a product-agnostic approach to product development and customer interaction.

We discuss:

- Why a product-agnostic approach makes sense

- How data is a crucial piece for meeting customer needs

- Focusing on the end-to-end customer experience

- Managing risk and governance groups during the process

Resources mentioned during the podcast:

- “What’s a Digital Lending Ecosystem and Why Should Banks Care?” by Alex Johnson

To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website.
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