The financial system in India has faced several hurdles and continues to struggle in the face of a volatile economy. Post demonetisation, the government shut out all the loopholes of earning and circulation of black money, leading to strict rules of accounting proof underlying every single transaction. This prompted many businesses to slow down as […]
Ways to Enhance Customer Experience in Digital Lending
Until recently, consumer lending involved outdated loan origination and approval processes with a long paper trail and high turnaround times. This often increased costs and impacted the customer experience. The online loan application experience often followed the same pattern as the offline counterpart. The outcome was redundant and inefficient processes, far from optimized lending solutions. […]
How Finezza Helped Gromor & Udhyam Alter Bengaluru’s Iron-walas
In addition to helping leading NBFCs and banks optimise their lending lifecycles and processes, Finezza is also helping small businesses get access to credit in an efficient manner. Small and medium enterprises (SMEs) are the largest employment generators in the country with more than 40% of the total workforce employed by it. Since the sector […]
Decoding the RBI restrictions on Customer’s Credit Data & How it impacts the lending process for NBFCs
Projections indicate that the credit demand in India is going to be worth $1.41 Tn by 2022. The growth rate in credit demand is estimated to be 3.73% between FY17 and FY22. The flourishing credit landscape has led to the growth of multiple lending startups in the country. Add to this, numerous other tech companies […]
The Loan Lifetime Process: Can AI and ML Replace Feet-on-Street?
All right-minded businesses like to explore engagement opportunities with customers where the chances of getting the returns on their investment in terms of time and effort are the brightest. Pre-qualifying helps ascertain that a lead is likely to purchase if moved into the sales process. It ensures that a lead is interested in what the […]
Co-Lending: What is it? How it Works? How Will NBFCs Benefit From It?
By definition, co-lending is when a fintech firm comes together with a traditional lender, to disburse loans. The association allows fintech firms to source clients, perform credit appraisals and disburse a small part of the loan amount. On the other hand, the co-lending arrangement enables a bank to give out the more substantial chunk of […]