It is rare to see that all of the financial holdings of a borrower are in one place. The bulk of the time, they are scattered among various intermediaries and most likely fall within the jurisdiction of ten different regulators. For instance, a customer can have fixed deposits in three different banks, each under RBI’s […]
9 Features that make an Outstanding Loan Management Software in 2021
50% of people who want a loan and have access to the internet in India prefer to buy it online. It is stats like these that prove today’s consumer wants the ease of swift loans available without the hassle of dozens of bank visits. And this demand is not limited to loan origination. They want […]
Automated Loan Processing System: What is it and How Can It Benefit Lenders?
In the post-pandemic era, banks and other lending institutions are in a challenging position with higher volumes of non-performing assets, increasing default rates, and reduced consumer spending, leading to reduced profits. However, to kick-start the economy, the financial service providers must upscale the credit granting process with an automated loan processing system. This is, however, […]
How Effective Are Online Loan Management Systems in India?
TL;DR: Very effective. This is especially true in the aftermath of COVID-19. BCG’s Digital Lending report states that online lending in India will be worth upwards of $1 trillion by 2023. The estimate is evidence that fintech solutions like loan management systems are abundantly useful. It is the benefits they bring to lenders that make […]
Best Gold Loan Management System: Features to Look For
Gold loans have been one of the oldest forms of secured lending in India for centuries. Being a highly liquid asset, gold is the preferred collateral for many lending companies. Several financial institutions, including banks and NBFCs, have gold loans as an integral part of their business lending strategy. Challenges Faced By Lending Institutions in […]
Loan Management Systems in India: A Perspective Pre and Post Pandemic
COVID-19 has resulted in an unprecedented economic crisis, and there has been many disruptions and dramatic changes right from consumer spending to government operations. The lending sector in India is no exception to this rule, and it will also undergo a paradigm shift. There will be a change in the way lenders approach customers and […]