A new breed of payday lender and the fall of the fax machine

This is a significant improvement on the process that used to govern the transferring of cash between the applicant and the lender

. Before the introduction of these processes, lenders would generally have to rely on fax or e-mail and would more often than not have to wait on the applicant to respond before they could push their application on to the next step. Nowadays, most of this is deal with instantly online the applicant fills in the online application form and is then instantly redirected to an online credit agreement. With the majority of major lenders the funds owed to the applicant are now deposited near instantaneously into the designated bank account after the credit agreement has been signed.

A new breed of payday lender and the fall of the fax machine

By: rantgatorant

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