Most banks have already integrated a mobile banking offering into their services. Allowing for fund transfer or cash withdrawals without human interaction is not new.

The next step for banks is mobile lending: allowing customers to apply for, receive and access loaned funds instantly and automatically, using only their mobile device. This kind of offering has many benefits, including cutting loan origination costs, lowering risk, reducing loan turnaround times, enabling more customized product offerings and allowing your bank to gain a competitive advantage.