This IDC PlanScape describes the need for modernization of critical workloads based on market conditions that are compelling a response, or in anticipation of a predicted event that will prevent a disruption or leverage a coming benefit in a changing market. This IDC PlanScape on digital lending modernization describes such an environment that happened in 2020, and why institutions are being forced to accelerate modernizing their lending operations.
"Lending is arguably the most challenging environment in the bank's business model in 2020," said Jerry Silva, vice president, IDC Financial Insights. "The relative low priority of lending transformation prior to 2020, in combination with the urgent need for expanded credit due to the COVID-19 pandemic, is forcing institutions to reprioritize lending transformation to survive this crisis and avoid the next one."
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