India, a rapidly growing economy with over 1.4 billion people, faces significant challenges in financial inclusion. Since independence, its banking sector has evolved through four distinct phases: Pre-social banking (1950-1969), Social banking (1969-1990), and two Liberalisation periods (1990-2005, 2005-present). Despite rigorous efforts to attain financial inclusion, around 11% of India’s adult population is underbanked even […]
5 Tech Trends Revolutionising Lending Lifecycle Management
There is a stark contrast between India’s current financial landscape and its state in the 2000s primarily due to the influx of fintech companies. The confluence of technology and finance combined with the increasing demand for convenient and user-friendly financial services are shaping India’s economic ecosystem. While traditional banks and financial institutions have served the […]
Strategies for Effective Collection Delinquency Management
The lending landscape is continually growing, with a mix of banks, neo-banks, Non-Banking Financial Companies (NBFCs), and payment apps offering a mix of consumer and business loans. However, collection delinquency management is emerging as a key challenge for lenders in an era when it is considerably easier to access a loan. However, traditional collection strategies, […]
Mitigating Risk in Debt Factoring: Underwriting Best Practices
Accounts receivable financing or debt factoring is a common business financing practice. Businesses can sell their accounts receivable to a third party, called a factor, at a discount. However, factoring could be an excellent solution for companies to try to cash in on their account receivables, control cash flow, and keep the business afloat. Factoring […]
Ways Loan Management Software Accelerate Transparent Lending
Ever wonder how India’s banking systems got so high-tech? From the first ATMs in the 2000s to today’s cutting-edge innovations, India’s financial landscape is transforming at breakneck speed. Government initiatives and fintech breakthroughs are fueling this revolution, making banking more efficient, inclusive, and transparent for everyone. Lending was one of the major areas that was […]
Why Cloud-Based Loan Management Software is the Future
Today, potential business or individual borrowers seek an efficient user experience for the loan application process, loan approvals and disbursals, and EMI payments. Lenders looking to meet and exceed user expectations must work with technology that crafts a superior experience. In turn, they improve the potential to turn leads into customers and accelerate business growth. […]