Consumer behaviour in the lending industry is evolving fast to match the paradigm shift in financial markets. Borrowers today expect instant loan approvals on the tap of the button, in a single click. Legacy loan origination systems and traditional processes that warrant manual intervention do not allow such levels of sophistication at the time of […]
Why You Need A Cloud-based Loan Management System?
Highly competitive lending markets need players to streamline processes and routines to service the high demands they are facing. There is a dire need to leverage time-saving technology for optimal efficiency whenever possible. When it comes to loan management, manual processes fail to handle the massive amount of data they come across on an everyday […]
Role of Banks Statement Analysis in Lending Risk Management
A bank statement gives a view of all the transactions undertaken by the account holder including deposits, withdrawals, transfers, debit card payments, interest earned, bank service fees, as well as the other installments they are paying over a fixed span of time. All prospective lenders ask for a copy of the applicant’s bank statement from […]
How Credit Bureau Data can Help Lenders Predict Defaults and Save Money
Retail loans – the only remaining bright spot on the books of Indian lenders so far – have begun their downward slide. Experts say that it was only a matter of time before the developments on the unemployment front and successive collapse of large banks took its toll on the consumer loan segment. A liquidity […]
Drive Upsell Opportunities by Leveraging Credit Bureau Data
Upselling to the existing customer base is a key pillar of the overall marketing strategy followed by lenders to increase Customer Lifetime Value and keep customer acquisition costs down. The spin-off effect on retention is an added benefit. However, traditional segmentation techniques based on demographics like income and location are barely sufficient to identify the […]
The Future of Financing Trends with NBFCs
NBFCs are key players when it comes to the objective of financial inclusion that India aims to achieve. It caters to unbanked and underbanked sections of Indian society. Additionally, they provide the credit demand of MSMEs too. Through direct and indirect involvement, they transform sectors like transportation, employment generation, wealth creation, bank credit in rural […]