From insurance and payment assistance programs to credit cards and deposit accounts, ancillary products that either support consumer loans or complement them help lenders provide a better borrower experience and increase revenue. This report examines the most popular products offered in cross-selling, as well as the strategies lenders need to use to incorporate them into the lending process. It also assesses consumer expectations about how products are marketed and sold.
Key questions discussed in this report:
- How can lenders successfully cross-sell to existing customers and new prospects?
- What are the most pressing changes to the cross-sell dynamic for lenders and consumers?
- What risk is involved, and how can it be mitigated?
Consumer data in this report was collected via an online survey fielded in April 2020 of 1,000 consumers who obtained one or more mortgage, home equity, auto loan, lease, or subscription financing product on or after January 2018.