This report can serve as a valuable tool to build the foundation for a successful lending strategy and create benchmarks needed to improve efforts around financial inclusion, prospecting, risk management and more.
2023 highlights at-a-glance:
- There has been growth in loan origination volume across all AFS segments except single pay
- A growing number of lenders are driving an increase in prescreen direct mail campaigns
- There has been a continued shift in the composition of loan types originated in the AFS market
- Consumer retention remains an invaluable tool for lenders to decrease portfolio bad rates