The introduction of GreenSky into the finance industry came to bring a lot of revolution to this sector of the economy. This was after the consumers of the credit finance had suffered under the poor services of the banking and financial institutions, which had been providing them with raw financial deals. The idea of establishing this organization by its founder and CEO, Zalik David, came after the observation of the market players in the finance industry. He thought that he could improve the way the services were provided in the sector. That’s when he formed GreenSky , with the chief objective of improving the quality of services that were offered to the loan applicants in the industry.
There were various challenges that the customers of loan and credit services faced under the traditional banking systems. One of the problems was the bureaucracy and long processes that were involved with the application of loans. The customers had to wait for a couple of days, and sometimes weeks, to receive their borrowed funds whenever they sought financial assistance from the financial institutions. This way, most of them encountered frustration especially if they required emergency funding.
As a result, GreenSky , with the help of David Zalik, introduced a platform that enabled the borrowers to access the credit facilities from the creditors through the internet. The online platform has brought a lot of convenience to these customers because nowadays they do not have to travel to the banking premises to apply for loans. Also, the kind of interrogation and scrutiny to which the customers of credit funding were subjected has been alleviated. This way, the borrowers can access funds from the lenders within a short period.
What has helped GreenSky to reach the success level on which sits has been the unique marketing and promotion strategy that has been implemented by its able CEO in the organization. Unlike many companies in the industry, GreenSky does not market its brand in the media. Instead, Mr. Zalik has concentrated on establishing business relationships with the stakeholders of the other financial institutions so that GreenSky can leverage the bigger customer base of these firms.