GreenSky eases loan servicing for banks

GreenSky is a fintech that offers point-of-sale loan services to consumers. It has partnered with regional banks to provide loan services to as many people as possible. They have simplified the loan application process, by handling the paperwork needed from the consumer and the bank. They offer quick solutions to the needs of consumers who are in need of crucial services but have no cash to pay. If you are a homeowner and you need some home maintenance work to be done but you lack the money to pay, worry no more because GreenSky will facilitate instant financing of the project through the merchant.

The merchant will apply for a loan with the amount he will charge for the service. They will send relevant loan processing information to the fintech, which will on its part link the borrower with a lender willing to offer the loan. Once a lender is found, the loan is processed instantly. GreenSky has mainly been working with four regional banks namely Sun Trust, Synovus, Fifth Third, and Regions Financial

Regional banks are interested in consumer lending since it attracts high yields, but two obstacles hinder progress in this field. The cost involved in getting customers is too high and the servicing the loan can also be a nightmare. Through GreenSky, regional banks are getting better full benefits of consumer lending. The fintech brings the customers to them and it even facilities servicing of the loan. The role of the bank in the whole process is to offer the money to lend.

GreenSky does not offer interest on the loans as is the case with traditional banking. Customers who will pay back the loan in the agreed timeframe will get the benefit of not repaying even a single cent on top of the principal amount. It is GreenSky who take up the role of repaying the loan during the zero percent APR period. There are huge hopes on this company that it will perform very well in long-term. In the period that they have been in the industry, there has been consistent growth trend. In 2017, they recorded a 30 percent increase from the previous year.

https://www.crunchbase.com/organization/greensky

Manager And Business Leader-Michael Burwell

Roger Millay was the former Chief Financial Officer of Global Advisory insurance and reinsurance brokerage specialist Willis Towers Watson, during his retirement he was replaced by Michael Burwell in October 2017. Mike has a vast experience of more than 31 years. He began his career at PwC. While working at PwC he held several positions from being the Head of Transaction Services in the United States, Chief Operating Officer, Chief Financial Officer, as well as Head of Global Transformation in the United States of America. Mr. Burwell has experience in the financial industry and he has also experience in both audit, and transaction services advisory which runs for over 12 years.

 

John Haley is the Chief Executive Officer of Willis Towers Watson and in a statement, he released after the appointment of Mr. Burwell, he said he was thrilled with Michael’s appointed and that he has joined the organization at such an important time when the firm is experiencing change. Willis Towers Watson is lucky to hire Mike as he brings his skills in management, leadership as well as a strong focus on customers. John further said that their trust that Michael’s financial skills will help the organization’s long-term plans. Mr. Haley did not forget to than the former Chief Financial Officer for his contribution to the group. Mr. Burwell was also glad and thankful that he was given an opportunity to work with Willis Towers Watson and that he is looking forward to contributing to the organization’s endeavors. Get Related Information Here.

 

Michael Burwell is the current Chief Financial Officer at Willis Towers Watson. Prior to joining the firm, he served at PricewaterhouseCoopers LLP. At PwC Mike served at the insurance advisory department. He is a go-getter and while still working at PwC he climbed the career ladder and was appointed a partner at the group, and he had to move into PwC Detroit transaction business. Michael Burwell portrayed a positive leadership skill and in 2009 he was the Chief Financial Officer and the Chief Operating Officer of the firm.

 

After his High School graduation, Mike joined Michigan State University and he graduated with Bachelors’ Degree in Business Administration, and he is also a certified public accountant. Michael Burwell has also been recognized as the Michigan State University Alumnus of the year. Mike does not make decisions on his own instead he relies on other people in his organization to come up with a good business idea.

 

 

Visit: https://ideamensch.com/mike-burwell/