For many years in the past, the financial credit sector has been characterized by tedious paperwork and long processes of approval that has been a source of frustration to many borrowers. It has not been surprising to see a customer applying for an emergency loan and ending up waiting for the funds for more than even a month before they reflect into their bank accounts. This is what GreenSky Credit has observed in the market and decided to save the credit customers the agony that they experience while dealing with the bureaucracy of the financial institutions to which they run when they encounter financial constraints.
To solve this market challenge, GreenSky Credit has designed an online application that acts as an interactive platform between the financial lenders and the borrowers. The main role of GreenSky Credit in this whole process is to provide the platform and eventually provide the necessary funds on behalf of the creditors after the approval has been granted. The process of application has been made very efficient by this platform. This is because within a count of minutes the client is through with the submission of the application details on the platform, ready for approval. The details are then transmitted to the individual financial lenders, and they scrutinize them for the creditworthiness of the borrower. After the scrutiny, the approvals are then sent back to GreenSky, using the same platform, which then credits the borrower’s bank account within the next 48 hours.
The motivation of GreenSky Credit has been to provide efficiency to the customers while accessing cheap and sufficient credit. The company, under the strong leadership of its CEO, David Zalik, has been quite instrumental in ensuring streamlined processes in the financial credit sector. One aspect that David Zalik has been focusing on is the establishment and maintenance of close and professional relationships with the financial lenders and other credit institutions. This has enabled GreenSky Credit to leverage the wide customer base of these institutions which they have been serving. On the other hand, the small creditors benefit from this relationship by having the guarantee that funds will always be available whenever their customers request to have them.