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The term "loan product" implies a certain banking service on lending to individuals or legal entities.

There are various loan products in different banks and other financial institutions. Their terms and conditions are determined by the policy of each bank representing a kind of "commodity" sold by different financial institutions.
The need to develop new credit products arises from the development of "consumer society." In other words, people refer to the credit product as something that they are buying, although loans were originally conceived as a means of helping to achieve the goal. So the new loan products are essential for more active promotion of credit in the banking market.

The experts in new product development meet the following challenges:

• Identifying the target audience for a new loan product;
• Design of a loan product in the free segment of the credit market;
• Compliance of the loan product with requirements and possibilities of a potential buyer;
• Opportunities for loan product promotion to potential buyers.

Development of new loan products is an important and at the same time a complex process that requires a deep knowledge of experts in credit market analysis, as well as in bank finance and loan portfolio management. Such factors as stability of the financial situation in the country, inflation, currency fluctuations must be taken into account.

Special attention in new loan product development should be given to risk indicators. In other words, what is the likelihood of loan default compared with an estimated profit? As practice shows, this particular parameter affects the decision on launching a new loan product on the market.

If you are interested in the programs on new credit products development, please call +7 (812) 498 65 80.

TA Consult experts will answer your questions. 

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