Access to credit is a critical element for families, individuals, and businesses to build wealth, achieve economic stability, and climb the economic ladder. The process to gauge the creditworthiness of borrowers or credit underwriting is therefore important to boost the lending business. Credit underwriting used to be a long and tedious process for borrowers with […]
How Gromor Is Leveraging Account Aggregator to Upgrade Its Lending Process
Account aggregators are RBI-regulated entities that collect financial data from Financial Information Providers (FIP) like banks and tax departments and give access to Financial Information Users (FIU) like investment firms with customer consent. As many as 61% of the bank executives believe that a customer-centric model is “very important” in today’s digital age, as per […]
Electronic Signatures for Loan Documents
Appropriate authentication of loan documents is crucial not only to the business but also for building trust in the lending relationship. However, overwhelmed by the heap of documents, one often ends up missing out on an important piece of paper. The consequence? Varies from wasted time and effort to a dire loss. The Problem Manual, […]
10 Reasons Why OCEN is India’s Future of Financial Transactions
OCEN sparked much interest in the financial world after the global economy was put on a ventilator during the pandemic. It was first introduced as a part of IndiaStack by Infosys CEO Nandan Nilekani in 2020 and is still a hot topic today. Simply defined, OCEN (open credit enabled network) is an application that intends […]
Security-Based Lending: Cash Flow Management 101
Securities-based lending is a strategic approach to availing cash flow at slashed costs. The ultimate catch to this approach is that you remain invested with your securities, retaining the ownership right and yet leverage it to fulfil your cash flow needs. Among surmounting benefits that securities-based lending offers, instant access to capital, cut-off interest rates, […]
Lender’s Guide to FAQs About Fake Documents & Answers
Lenders often seek bank statements to verify prospective customers’ income, cash flow, or assets for loan disbursement. Unfortunately, PDF versions of bank statements can be tampered with or even entirely fabricated. For instance, a Google search on ‘make a fake statement’ will open up dozens of websites that create a wholly fabricated bank statement with […]