Governments globally have strived hard to usher in financial inclusion within their respective economies sustainably and responsibly. Yet, the undeniable truth is staring; most of the population has moved from being unbanked altogether to being underbanked. However, this large chunk of people can maintain bank accounts, perform transactions etc., on their digital devices, all thanks […]
Why Automate and Digitise Credit Risk Management?
Some of the most pressing factors to an urgent need to digitise credit risk management are competition from digitally strong, emerging fintech firms, highly volatile market conditions and cyber security threats that can lead to data privacy issues. The pace of technological disruption has never been stronger than now, and organisations need to ramp up […]
8 Benefits of Cloud-based Loan Origination and Loan Management System
In today’s commercial lending market, cloud-based solutions are increasingly serving loan origination and loan management requirements, shifting from manual operations to cloud automation built on the premise of easy access, scalability, and speed. As financiers signal their increased appetite for consumer lending, it is important to speed up digitisation and cater to the newer generation […]
Automated Loan Processing System: What is it and How Can It Benefit Lenders?
In the post-pandemic era, banks and other lending institutions are in a challenging position with higher volumes of non-performing assets, increasing default rates, and reduced consumer spending, leading to reduced profits. However, to kick-start the economy, the financial service providers must upscale the credit granting process with an automated loan processing system. This is, however, […]
Tips to Identify Fake Document for Fraud Prevention
Criminal activities have increasingly utilised fake document or document forgery, resulting in billions of dollars being lost by the global economy each year. Countless reasons drive the creation of counterfeit documents, such as obtaining loans beyond their eligibility, buying or selling properties, acquiring loans, evading arrest, or staying in a country illegally. Even a few […]
Why Is A Loan Management Software At The Core Of A Future-Enabled NBFC?
India’s Non-Banking Financial Companies or NBFC sector continues to be at the forefront of driving credit outreach for the country’s underserved low-income, retail, and MSME market. The total asset size of all NBFCs in India is more than $370 billion, and they provided close to 20 per cent of all credit in India till March […]