Consumer Banking ICA 2
Storyboard Text
- John argues with Jason over the differences between both Banks
- Why do I have to go through such a tedious and time-consuming process just to evaluate my credit-worthiness for this small holiday loan! when *begins to describe Oliver's situation* ...
- Jason apologizes to Jack and explains the application criteria of Digital Full Banks
- I'm sorry that you had to face this John. Although it may seem unfair, there are very few Digital Full Banks in Singapore due to the strict application criteria's. Hence, this feature mentioned by Oliver is very rare and present in very few banks as of today
- Jason explains the benefits of Digital Full Banks (with licenses) in Singapore
- Hm Interesting! Thanks for your advice, I'll surely take that into consideration
- Digital Full Banks also provide many other features benefits such as through peer-to-peer lending and making use of technologies are that help make the loan process much faster through an automated process
- You should research more about Digital Full Banks as they have amazing potential!
- John gets frustrated and decided to question the credit bureau on why he had to go through this tedious and time-consuming process and began to describe Oliver's education loan acceptance process of 5 minutes through the use of machine-learning and alternative data provided by Bank 456 which is a Digital Full Bank.
- The Credit Bureau Officer stated that he is indeed aware of this method of approving credit worthiness and apologizes to John while stating that there are not many Digital Full Banks in Singapore due to the fact that the application process is very strict and rigorous. He also mentions that Bank 456 is one of the 4 consumer banks with a Digital Bank license in Singapore out of more than 20 Digital Full Bank applications in Singapore
- Jason mentions that Bank 456 offers unique features that stand out from most traditional banks such as it making use of technologies that help make the loan process much faster through an automated process. Jason then advises John to research more about Bank 456's modern-modeling techniques used for assessing not just credit worthiness but for other features and aspects within its digital banking platform. John takes his advice and thanks the loan officer for his service.
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