16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Brian Timson Brian has held senior management positions in the financial services industry for more than 20 years. Focused on leveraging technology to improve the way that companies do business, he has … Web: www.alliedsolutions.net Details Year-to-year, community financial institutions have become more conservative about consumer lending. So as to not open themselves up to additional risks, many of these institutions tend to only service consumers with prime and super prime credit. However, consumers with non-prime credit make up a solid portion of the consumer lending market, so this desire to stick with “safer” loans leaves quite a few loan opportunities on the table. And when many community financial institutions are dropping their rates to as low as 0% in order to compete with large national lenders for prime and super prime consumers, missing additional revenue opportunities for your loan portfolio is not a small matter.To compound the challenge, Millennials – who present a massive lending opportunity for financial institutions – are often considered non-prime (due to having little-to-no established credit or having outstanding student loan debt.). So while fear of unwarranted risks keeps community financial institutions from supplying loans to these “risky” consumers, new non-traditional lenders are stepping in to swoop up these untapped loan opportunities. Market disruptors like retail lenders (i.e. Costco), mobile lenders (i.e. AutoGravity), and peer-to-peer lenders (i.e. Lending Club) are finding ways to bypass the existing banking system, credit bureaus and financing requirements to lend to this highly sought after demographic.If your community financial institution is avoiding non-prime consumers you are likely creating three major problems for your business:You are missing out on an opportunity to vastly expand your loan portfolioYou are isolating some of your key demographicsYou are losing out on new streams of revenueThe best way to drive loan yield is to expand and diversify your loan portfolio, so you are not missing out on any major opportunities. A whole host of solutions have surfaced in the consumer lending marketplace over the past decade that offer to help community financial institutions adjust their lending policies and criteria so they may begin servicing a greater portion of the borrowing population. These offerings primarily consist of collateral risk protection programs, expanded loan channels, add-on consumer offerings and digital engagement tools.Once you’ve adopted a number of these solutions, you can begin to experiment with various packaging and marketing strategies to differentiate you from your competition, attract new borrowers and generate much sought after non-interest income. The options to take advantage of are ever-evolving, and the opportunities offered through these solutions are endless. If you want to attract new loan customers, you have to set yourself apart from a growing list of competitors. The only way to do that is to offer the entire marketplace something other competitors cannot: end-to- end service, at the low cost only a community financial institution can offer.Contact Brian Timson to learn more about how you can expand and protect your consumer lending portfolio: [email protected] in learning more strategies for competing with traditional and non-traditional lenders? Read our white paper on “Stop Handing Over Auto Loans to Your Competitors”.Interested in learning more about effective marketing strategies? Read our white paper on “Consumer Engagement Channels: How and Where to Get the Most Out of Your Communications”.
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Sponsored Content Brought To You By NY Auto GiantBehold, the spectacle of the great, rushing, gushing thaw. Snowdrifts high atop Pennsylvania and New York’s gorgeous mountain ranges have been giving way to the healing, cleansing power of rising temperatures and spring rain, baptizing the Empire State in freshness and feeding the always-thirsty Lake Erie in preparation for a long, steamy summer. Embrace the sanctifying waters that embody our changing seasons with a road trip to Niagara. Besides the breathtaking falls, this area boasts some of the most scenic treasures of the state. You owe it to yourself to hop in your favorite vehicle, fill up the tank, and ride off to the place where falling water is transformed into dazzling and sensational beauty, rejuvenating both the senses and the spirit.What could possibly be more apropos than making this Niagara Falls trek in a new Dodge Journey? This vehicle, the most affordable midsize crossover on the market, is the perfect chariot to take you safely across roads caked with sloppy mud on your way to Western New York and its reborn glory. With efficient power, serious safety and security features, state-of-the-art technology, seven models to choose from, and excellent warranty coverage, you will be in good—and good-looking—hands. No better way to travel to Niagara than in a brand new Dodge Journey from NY Auto Giant!You would be remiss if you didn’t check out the Niagara Wine Trail. Featuring a different theme each month, replete with a distinctive signature wine glass, over a dozen of the area’s wineries participate in this event where you can taste local offerings.There’s an abundance of places to stay in Niagara, but you can’t beat the views from the Marriott Niagara Falls Fallsview Hotel and Spa on the Canadian side, which seems to sit right at the edge of the immense and stunning falls themselves. Boasting a full-service spa, Starbucks, and the acclaimed Terrapin Grille Fallsview Restaurant, which features floor-to-ceiling windows framing astonishing views of the rushing waterfalls, you’d be hard-pressed to find better lodging.For down-home meals and a festive atmosphere, check out the popular Gordie Harper’s Bazaar in nearby Newfane for breakfast, lunch, or dinner. Right at the entrance, you will be greeted by bazaar treats available for purchase, such as local candies, jellies and syrups. A few steps further will bring you to the dessert case, with freshly baked turnovers, sticky buns, rugalach and cupcakes, oh my! For breakfast, order the hearty omelets with a side of potatoes. For dinner or lunch, you can’t miss the rib-sticking pot roast or the complete turkey feast. Yum yum-yum yum-yum! Just looking for a steaming cup of Joe and something light? Go no further than the Orange Cat Coffee Company, located in Lewiston. Set yourself up at an outside table (weather permitting) and take in the charm of Center Street. Try a strong cup of organic, fresh-brewed roastmaster blend, and treat yourself to a vegan cookie or muffin. They also offer an ever-changing menu of soups, wraps and salads. Click Here To Learn More About NY Auto GiantWith a full belly and caffeine running through your bloodstream, strap on your hiking boots and trek the falls themselves, with a guided hike through the gorgeous winding trails entertaining you with historical folklore as well as its majestic beauty. Could there possibly be a better way to welcome in the spring? No, no there couldn’t. Not at all.To get in your Dodge Journey and to begin your own, call Brendan Miller at Atlantic Chrysler Dodge Jeep Ram.
Home Central says it would like to thank the community for its support since the fire. In March, the Vestal Police told 12 News the fire was started by a former employee. Additionally, a material showcase area will be added to the store. The current retail section is being gutted to accommodate the construction. VESTAL (WBNG) — Home Central says it is beginning to rebuild its Vestal warehouse after it was destroyed in a devastating fire in February 2020. 50-year-old Richard Miller was charged with arson. The businesses says the new warehouse will be bigger than the first. The retail section located adjacent to the warehouse will also be increased in size.