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Specialty Finance lenders seek ways to say “yes” more often to applicants with limited access to traditional financial services, in a difficult and saturated market. To find and convert prospects to grow their loan portfolios, lenders often supplement their online advertising with direct mail marketing to boost application volumes. When their direct mail contact lists become stale and response rates lag, lenders may turn to Lead Generators for new prospects.
But some lenders have experienced lower conversion rates and more fraud incidents from purchased lead gen lists- so they are searching for ways to find and convert new customers while maintaining their target risk profiles & controlling acquisition costs.