Today, the lending landscape is promising for ambitious lenders. For instance, the estimated credit gap of INR 33 trillion in Micro, Small, and Medium Enterprises (MSMEs) presents an opportunity for lenders to service this sector more efficiently. However, existing systems cannot accurately underwrite MSME businesses due to their unique needs and lack of credit history. Adopting […]
Automated Loan Processing System: Speed Up Approvals with Straight-Through Processing
Manual loan processing, from origination to disbursement and collections, is time-consuming and requires significant effort. It is also inefficient and error-prone, resulting in lenders spending time and resources troubleshooting. Increasing loan application volumes and customer expectations are pushing lenders to seek efficient loan processing solutions to help them speed up their loan approvals. In this […]
How Do Virtual Credit Card Numbers Work: Implications for Lenders
The rapid transformation of the financial sector demands innovative digital solutions. To keep up with the pace, lenders are seeking cutting-edge solutions to help deal with modern challenges, such as identity thefts, while ensuring seamless user experiences. Virtual credit cards (VCCs) have emerged as a transformative tool. They offer a solution to the safety problem […]
Slash Loan Processing Time: Tips to Optimize Your Loan Origination Process Flow
The lending industry is considered a key driver of economic growth in India. On the business side, lenders are attempting to fill the credit gap, enabling businesses of all sizes and scales to reach their full potential. On the retail side, timely and affordable loans enable consumers to fulfil various aspirations, from purchasing a home […]
Digital and Advanced Loan Origination System: A Lender’s Lifeline in the Digital Era
The Indian financial ecosystem is witnessing rapid changes thanks to the increasing demand for technology integration into conventional financial operations. Traditionally, although most banks and other financial institutions claimed to offer top-notch customer service and experiences, the reality painted a different picture. Despite these reassuring claims, banks were gradually – for the wrong reasons. The […]
How to Reduce Friction in the Loan Origination System with Automation?
Customer experience is one of the major talking points for customers dealing with businesses operating in the retail and hospitality sectors. However, that was hardly the case in the finance industry, especially in lending. However, the times they are a-changing. Modern customers are ready to ditch the traditional, inconvenient, and time-consuming process in favour of […]