Traditionally, securing a commercial loan was anything but a cakewalk. From assessing a range of parameters, including the business’s credit history and financial statements, to calculating collateral requirements before finally approving the loan, -the process is evidently time-consuming and lengthy. Additionally, multiple teams from various business units that are at times located in different cities […]
Cloud-based Loan Management Software: Shaping Future of Data-driven Loan Management
The renowned marketing and customer experience guru Jay Baer once said, “We are surrounded by data, but starved for insights”. This suggests that despite having easy access to large pools of data, many businesses do not have the means to extract relevant insights from it. We could see a similar theme across the global lending […]
Loan Management System in India: Ensuring Data Security and Confidentiality
With the emergence of digital lending platforms and increasing reliance on technology for loan management, India’s financial environment has experienced a substantial transition recently. The digital lending market in the country has experienced significant development in recent years. According to a Boston Consulting Group (BCG) survey, the digital lending market is anticipated to reach an […]
4 Reasons Why Cloud-Based Loan Management Software Is a Gamechanger for Lenders
A Gartner report indicates that around 51% of total IT spending will shift from conventional on-premise solutions to the public cloud. We see a similar shift in the financial sector, according to an O’Reilly Cloud Adoption 2021 Report. The report further suggests that the finance and banking sector is the third highest adopter of cloud […]
How AI-enabled Loan Origination System Enhances Decision-making for Lenders
The lending industry in India is expected to play a major role in helping the country reach the $ 5 trillion economy milestone. Adequate and timely access to capital can help businesses grow faster, drive employment, and operate at the cusp of innovation. However, lenders face a number of challenges in their daily operations. For […]
5 Best Practices: Integrating Loan Management Software
In the rapidly growing and highly competitive digital credit market, efficient loan management software (LMS) is the lender’s most trusted tool. A dependable LMS automates, simplifies, and optimises lending organisations’ loan origination and servicing procedures. To deliver productive end-to-end loan management capabilities, loan management software should seamlessly integrate with other systems, especially CRM and accounting […]