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 […]
How Loan Management Software Can Help Reduce Loan Default Rates
Lending as an economic activity has come a long way from the days of pawnbrokers to credit cards and, most recently, digital loans. The advent of agile technologies, novel delivery platforms, innovative business models, and competitive players is accelerating the digital revolution in the lending sector. The digital evolution of lending has now reached the […]
The Importance of Data Security in Loan Management System
In the era of information technology, data is the ‘new oil’. It is the essential commodity that drives businesses. The ability to gather, analyse, and use relevant data accurately makes or breaks an organisation in today’s age. Consequently, data security in cyberspace is a critical concern for firms operating in the digital space. Digital lending, […]
Can A Loan Management System Help Streamline Loan Processing and Approval?
As digitisation and adoption of fintech by consumers grow, lenders need to ensure their processes do not lag due to a lack of access to the latest technology. Generally, the lending process involves multiple steps, from customer onboarding to disbursement. Traditionally, each step is carried out manually, which is time-consuming and often prone to errors. […]
Future Trends in Loan Management Software: AI, Automation, and More
Thanks to technological advancements, loan management software has evolved immensely over the past decade. By 2032, AI and automation market in the banking industry is estimated to be worth USD 182 billion. In today’s digital age, lending institutions seek new and innovative ways to streamline their loan management processes. Artificial intelligence (AI), automation, and blockchain […]