The Micro, Small, and Medium Enterprises (MSMEs) sector has emerged as the cornerstone of the global economy, powering 70% of the workforce. According to an IFC report, 63 million Indian MSMEs contribute 30% of the GDP and provide jobs to 110 million people. Despite this, MSMEs often struggle with credit due to limited credit history, […]
Unmasking Financial Fraud: How Finezza Empowers Lenders
The financial fraud scenario in India is becoming more complex with the increasing sophistication of threats. As per RBI, banking frauds shot up 166% in FY24, with over 36,000 cases reported. This represents millions in losses and countless hours spent tracking fraudulent schemes that plague the lending sector. Digital lending has transformed credit access in […]
The Paradox of Alternative Lending: How It Can Both Simplify and Complicate the Lending Process
The growing demand for credit access among retail consumers and businesses has led to the accelerated growth of alternative lending in India. The key factors driving growth include limited credit access within traditional banking, fintech innovation, and widespread smartphone penetration. The market size of this category is expected to grow from $7.53 billion in 2023 […]
5 Reasons Why Mobile-First Approaches Are Transforming Digital Lending in India
The smartphone has transformed banking practices, benefiting consumers and financial institutions (FIs) alike. What was once a complex, time-consuming process of securing a loan has now been reduced to a few taps on a smartphone screen. Therefore, many lenders are increasingly adopting a mobile-first strategy to stay relevant and broaden their customer base. The numbers […]
What is the India Fintech Stack: A Guide to Seamless Digital Lending for NBFCs
Did you know that Non-Banking Financial Companies (NBFCs) can leverage data and digitisation to facilitate lending? It can lead to reduced costs, faster approvals, and increased financial inclusion. According to BCG, this might enable a 15X growth in this market, reaching INR 7 lakh crore in annual disbursements. But what drives this growth? It is […]
Proactive Credit Risk Management: Developing an Early Warning System
As per a report, as of March 31, 2023, 2,623 borrowers were classified as wilful defaulters in India and owed Rs 1,96,049 crore to the banks in India. This highlights the inherent risks lenders face. Therefore, financial institutions (FIs) need robust credit risk management to minimise risk and boost returns and productivity. An early warning […]