The lending industry has grown exponentially in the last few years. A mix of automated loan processing system, banks, and Non-Banking Financial Companies (NBFCs) are aggressively growing their loan verticals. On top of that, several payment platforms and eCommerce companies are also entering the highly competitive lending space. In the third quarter of 2023, digital […]
5 Key Features for Choosing Micro Loan Management Software
Micro loans play a crucial role in promoting financial inclusion and aiding small businesses. However, as demand rises, managing them becomes complex. To address this challenge, financial institutions adopt micro loan management software, an advanced tech solution that accelerates the loan origination and lifecycle process. According to a recent report by Grand View Research, the […]
Optimising the Loan Origination Lifecycle: Key Steps and Automation Opportunities
The loan origination procedure is critical in the financial industry because it allows individuals and organisations to obtain the capital they require for a variety of purposes. However, this lifecycle is frequently time-consuming and resource-intensive and can result in delays and inefficiencies. With improvements in technology and automation, financial institutions now have the ability to […]
How Commercial Loan Origination Software Accelerates Loan Approval
Delays, paperwork, and scattered workflows have long plagued commercial loan processing in India. From assessing financial statements and collateral to routing applications across departments, the traditional approach is often slow, disjointed, and resource-heavy. However, the introduction of commercial loan origination software has started to change that narrative. It brings structure, speed, and intelligence into a […]
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 […]