GLOSSARY: Real-time lending
Glossary > Real-time lending
What is real-time lending?
The phrase real-time lending refers to the ability of a bank or lender to receive a loan application, calculate the risk factors and give a result straight away. The outcome is that the applicant is able to receive almost immediate approval or rejection.
Technological advances have allowed banks to digitize underwriting processes and credit policies.
The advantage of real-time lending for consumer finance is that it allows merchants to be able to implement loans at the point of sale (POS), and additionally, loan applications can be done easily using a mobile device or online. This is a huge development from when the lenders underwriting process took weeks, leaving a consumer waiting.
Looking to implement POS financing?
Speak to one of our experts
Consumer Finance Application
Consumer Finance Application
A WORLD-CLASS
POS FINANCING SOLUTION
BY A WORLD-CLASS LENDER
Project Timeline: Lightening Fast
Timing is everything. Combining Jifiti's zero-integration and self-service onboarding platform, going live with a merchant has never been easier or quicker.
Take a look for yourself.
ABOUT US
Jifiti is redefining retail experiences
with unparalleled data & technology.
Our proprietary consumer finance & gifting solutions bridge the gap between retailers, lenders, and consumers.
We offer retailers a Zero-Integration POS financing, and end to end retail gifting solutions (Gift registry, eCommerce gift checkout, First party gift card solutions).
Consumer Finance Application
Consumer Finance Application
A WORLD-CLASS
POS FINANCING SOLUTION
BY A WORLD-CLASS LENDER
Project Timeline: Lightening Fast
Timing is everything. Combining Jifiti's zero-integration and self-service onboarding platform, going live with a merchant has never been easier or quicker.
Take a look for yourself.