Most financial institution executives are aware of and understand that the term “digital lending” refers to the digitization of all or parts of the loan origination and funding process. Borrowers using a digital solution typically initiate the loan process on a financial institution’s website using a computer or mobile device. They get fast approval or denial of the loan amount, can accept the terms of the loan and sign most documentation using e-sign—all within minutes. 

However, what are other digital lending solution attributes that can grow loan volume, improve efficiency and translate into bottom line savings and increased income? 

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When you have a customer apply for a loan (say for $100,000), and they are denied for excessive obligations.  The bank tells them we would consider making the loan with a qualified co-borrower.  The applicant provides a co-borrower, but they ask for a $110,000 loan.  The loan is denied with the co-borrower, and the $100,000 loan would have been denied too (even with the additional borrower).  

• Do you record this as two separate loans? 
• Do you report it as one, but use the $100,000 amount with the original borrower?  
• Do you record it as one loan, but use the two borrowers and the $110,000?