One of the main aspects that have led to the great success of GreenSky Credit is the ease of embracing new technology. The organization is one of the few companies in the finance industry that have embraced technology in their operations to enhance efficiency. What distinguishes GreenSky Credit from the other organizations is the purpose for which it has adopted the technological advances. Most of the organizations introduce technology in their operations to ensure that their staff members are not loaded with work. In others, the management teams have the intention to cut cost, and hence they opt technological advancement so that they can reduce the number of employees that they need to hire to do a certain level of work.
However, GreenSky Credit has a customer-oriented approach to technology improvements. The main objective of the organization, under the management of David Zalik who is the CEO of the company, is to enhance the convenience at which the customers receive their services. For instance, being a lending firm, GreenSky Credit has developed a platform that is geared towards ensuring that the customers receive their credit services efficiently and smoothly. This platform has been designed in such a manner that the clients who need credit assistance are not required to travel to the company’s premises to borrow funds. Sitting in their homes and logging into the company’s website is enough to initiate and complete the application of the loan, and in the next minute expect the funds to trickle into their bank accounts.
The approach which GreenSky Credit is using to lend the borrowers is also different from the ordinary lending firms. Being a large and stable organization, GreenSky lends the small lending companies which in turn lends their customers at a rate that will guarantee a significant percentage commission to the company. In this way, GreenSky can reduce its exposure to credit risk by transferring it to the small creditors and the lenders. Another approach used by GreenSky Credit is by the use of merchants and contractors as middlemen. This way, customers of these middlemen can access their services on credit while GreenSky acts as their guarantor. This comes with a commission to the company.