Question

Why is it important for a lender to consider the implications of using emails to communicate with borrowers?

Answer 1

It is important for lender to consider the implication of using email to communicate with borrower because-

A. Emails are generally a cost efficient technique and information is generally transferred very quickly over email so it is a fast information transfer process.

B. It is very convenient and permanent source of communication with borrowers.

C. There has to be a high efficiency because there are various types of data leakes and spam reported in case of email transfers.

D.There are problems associated with emails like data storage because large files cannot be easily sent through it, so these considerations have to be discounted by the lenders.

it is a modern and sophisticated way to communicate to various clients through email but it is non- personal in nature so this can be causing lack of communication technique with the client and the client is also not much responsive to email as a communication system so lenders have to adequately discount these factors.