The traditional process for disbursing commercial loans relies heavily on manual workflow, making it time-consuming and prone to errors. As the demand for credit by businesses and MSMEs increases rapidly, lenders seek contemporary solutions such as commercial loan management software that help them improve their efficiency and meet customer expectations. As per Statista, the value […]
Is a Line of Credit a Good Addition to Your Lending Products?
Credit plays an integral part in the economic progress of a country and an individual; credit helps fulfil goals and aspirations and aids in development. Individuals and businesses require different categories of credit facilities depending on the requirements, and lenders offer diverse credit products to meet the needs of their customers. Three primary types of […]
Say Goodbye to Spreadsheets: Learn Why You Need Loan Management Software
When spreadsheets were first launched in 2006, this brand-new innovation revolutionised the way businesses processed and stored financial data. In particular, financial institutions benefit because spreadsheets automate several tasks With the acceleration of digital transformation over the last three years, the amount of data being generated has increased exponentially. For instance, the number of digital […]
Explaining Financial Statement Analysis: A Comprehensive Guide for Lenders
A business’s financial statements generally contain detailed information about its assets, liabilities, income, and expenses. Scrutinising these statements helps understand the intricate workings of an organisation and helps assess its financial stability. Financial statement analysis often forms the bedrock for informed decision-making for various stakeholders. It offers insights into the business’s financial health to investors, […]
Digital Lending Solutions: Everything You Need to Know About DeFi Lending
Thе lending sеctor is undеrgoing a transformativе phasе known as decentralised finance (DеFi). In India, its emergence has been nothing short of rеvolutionary. Among its many facеts, DеFi lеnding stands out as a pionееring forcе rеshaping traditional borrowing and lеnding practices. Dеfi has surgеd forward, amassing an imprеssivе amount of capital in a rеmarkably briеf […]
Understanding the Mechanism Behind Automatic Classification of Bank Transactions
The revenue growth and profitability of a lending business depend on several factors. A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. Access to superior data plays an important role in this process. For instance, the ability […]