Many in the industry report these are tough times for lenders. While news stories seem to be focusing on anticipating the next calamity, many executives in the lending industry are asking themselves a different question: namely, what’s the antidote they need to survive the credit crunch and emerge stronger than before?

According to Deloitte Consulting LLP’s survey of more than 600 consumers, lenders would be well served if they were to consider strategies targeted at reducing costs without sacrificing service quality. Most consumers who applied online have become online “believers.” Most traditional applicants, who applied by telephone or in person, remained “doubters” when it came to the advantages of actually applying online. We believe lending institutions that turn today’s online doubters into tomorrow’s online believers will be best placed to thrive — not simply survive — in the years ahead.

To learn more about how lenders can seize the online opportunity, read “The Silver Lining in Lending: Turning Doubters into Online Believers,” attached below.