GreenSky Boosts Efficiency in the Credit Sector.

In the recent years, GreenSky  has been one of the financial organizations that have been trailblazing the revolution of the Financial industry in the economy. Through the use of technology, GreenSky  has managed to improve the way things are done in the financial institutions with the aim of smoothening the activities of these institutions. Another objective that has been at the forefront of the organization’s agendas is to provide convenience to the customers, especially those that rely on credit to survive in this harsh economy. With the assistance of its able principal, David Zalik, the organization has demonstrated a lot of zeal and determination in eradicating all the challenges that once faced the everyday American whenever they sought financial assistance from the financial creditors and other institutions.

When David Zalik formed GreenSky , the main intention that he had in his mind was to develop an organization that would offer financial services, and especially the credit financing to the ordinary clients. However, the vision of the organization was to reach as many customers as they could. So Zalik decided to make GreenSky  firm that would fund the clients through contractors and other smaller financial lenders. In this case, whenever a customer needed to take a loan for a specific purpose, they would approach the retail lenders, who would assess their creditworthiness and then authorize the funding by GreenSky. This way, the funds would be channeled directly to the purpose of the loan, and hence it would be more useful to the client.

After this initiative, GreenSky  observed that the process of loan application was taking longer than it was supposed to take in an ideal situation. This was because the client had to visit the offices of the creditor to fill in the loan application forms. The forms would then require transportation to the premises of GreenSky  for further assessment and disbursement of the borrowed amounts. This was a bit tedious and would take longer. As a way of mitigation, GreenSky recently introduced an online portal where all these activities of the loan application process will be taking place. This has dramatically reduced the turnaround time for the respective parties to less than 48 hours.