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. […]
Lending Life Cycle Management: Challenges and Best Practices
The lending life cycle consists of all activities that begin at the loan application stage and culminate with the final repayment. It involves due diligence regarding customer background by the lenders, regulatory compliance, and financial processes for the lender. However, many lenders encounter multifaceted challenges at various loan stages, including the critical tasks of risk […]
Line of Credit vs. Traditional Loan: Which One is Right for Your Lending Business?
In lending, financial institutions continually seek flexible and potentially lower-risk financing solutions to meet the evolving needs of businesses. Whether a startup or an existing business, the choice between issuing a line of credit or a traditional loan can have a considerable impact on an organisation’s risk exposure, profitability, and relationship with its customers. From […]
How Digital Payments are Changing India’s Digital Lending Software Landscape
The launch of the Unified Payments Interface (UPI) network in India in 2016 revolutionised the payments domain. This system enabled instant and secure payments by anyone with a mobile phone and bank account. Since then, digital payments have become the go-to mode of payments across economic strata. The financial year 2022 to 2023 recorded digital […]
How Is Alternative Data Revolutionising Credit Underwriting Software
As the lending industry grows and lenders attempt to scale quickly, lending businesses are at greater risk of making poor decisions inadvertently. Poor decision-making often results in the growth of non-performing assets (NPAs) and potentially funding fraudulent borrowers. Therefore, lenders need access to various data points to make data-driven decisions. Merely evaluating income statements or […]