Creative Thinking About Meeting Lending Needs
July 8, 2020
5 minute read – Wired recently published an article, A New Card Ties Your Credit to Your Social Media Stats, discussing a new startup company, Karat, which is designed specifically for social media influencers who have experienced difficulties being approved for mortgages, credit cards, or other financial products in the past.
We thought this article was thought provoking. We encourage you to invest time in having strategic discussions about creating new opportunities to meet the ever-evolving financial needs and behaviors of businesses and consumers. As you have your discussions, try to avoid analyzing the pros and cons right out of the shoot – this limits creative thinking. This can also serve as a jump start to thinking creatively about how assessing credit risk and opportunities may need to change as a result of the economic and psychological impact of the pandemic.