As the economy hobbles back to normalcy and interest rates continue to remain low, private lenders stand to gain the most in 2021, analysts said. The strengthening of capital buffers, the build-up of excess provisions, and improved liquidity positions could help private lenders gain market share and usher them into their “golden age”, maintained some analysts.
In a recent report, Morgan Stanley said large private lenders had emerged stronger out of the Covid crisis in terms of their capital positions. Moreover, they have been big beneficiaries of increased digital adoption. “A combination of these factors will help them gain rapid market share and materially lower cost to income ratios over the next few years. We see a 25-40% return upside at large private lending institutions,” the report said, adding that large private lending is entering a golden age.
For these reasons, now more than ever, private lenders need the tools that MoneyThumb offers, tools that are strictly created for the private lending industry. PDF Insights is the MoneyThumb tool most favored by private lenders, and below we will explain why. (If video is your preferred method of gaining information, watch the following, or read on.)
MoneyThumb's enterprise-level PDF financial file converters allow private lenders to automatically convert bank, credit card, and brokerage statements into the needed formats to quickly determine an applicant's loan worthiness. PDF Insights is a financial file converter specifically designed for lenders. PDF Insights outputs captured data into a standard format for automated consumption into the lenders' bank system. PDF Insights utilizes IDR (intelligent document recognition) to identify bank/statement formats.
Unlike competitors, this MoneyThumb solution for private lenders doesn’t need to be told upfront which bank or format is being used, yet correctly processes over 99% of U.S. bank statements. The output is delivered in a standardized format, even for statements from different banks. Our automated statement reconciliation feature compares transaction totals to summary information on the statement. If all information on the statement is consistent, PDF Insights will identify the statement as reconciled, meaning you don’t have to spend time manually reviewing statements to identify inconsistencies.
PDF Insights can be installed as a web service capable of converting up to 6 months of bank statements at one time. This serves as a powerful batch processing engine to cut way down on the workflow of lenders.
If you are a private lender and are not yet using the great PDF financial file converters specifically designed for lenders, why not take a free test drive today? Once you test out the extreme capabilities of these conversion tools, MoneyThumb is confident that you will want to incorporate PDF Insights into your necessary loan-making decisions.
If are know of a private lender who would benefit from this blog post and the MoneyThumb tools designed for lenders, please take a minute to share this post on your social media page, or email it to them.
From the MoneyThumb team and The Rules of Thumb blog, we hope 2021 is your best year ever. Happy New Year!