Lending in 2021, was a year like no other. 2020 was certainly a year for the record books with a global health crisis that forced economic impacts across the globe. As we now approach 2021, financial institutions are looking at an era of unprecedented uncertainty in lending, as potential write-offs loom and the effects of a low-interest rate environment inhibit profitability.
However, the year ahead also reveals some unique opportunities for financial institutions. Looking toward 2021, these are some of the biggest trends impacting lenders and the areas where financial institutions will need to invest for more profitable outcomes.