Advancement in banking tech has enabled a significant shift in how banks operate. The implementation of the Core Banking System or CBS, for instance, is one of the most innovative developments that has revolutionised conventional banking systems. According to the Market Research Future (MRFR) research, the worldwide CBS in banking is highly lucrative and expected […]
How Collaborative Lending Can Extend Credit to the Underbanked
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 […]
How Lenders Can Benefit from Automated Loan Processing Systems
An automated loan processing system has become a strategic necessity for modern lenders, not just a technological upgrade. With rising default rates, shrinking creditworthy segments, and heightened customer expectations for digital-first experiences, traditional loan workflows can no longer keep up. Manual data entry, fragmented systems, and paper-heavy processes introduce delays, errors, and compliance risks that […]
Tips to Identify Fake Document for Fraud Prevention
The use of fake document remains a key source of financial fraud across India. In the fiscal year 2023, the Reserve Bank of India (RBI) reported bank frauds exceeding ₹21,367 crore, highlighting the significant impact of fraudulent activities on the financial sector. The increasing reliance on digital platforms for customer onboarding has made it easier […]