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 […]
What Is Debt Factoring and Is It Right for Your Businesses?
Every small business owner begins by planning for success. However, in business, as in life, unforeseen events can throw a wrench into even the best-laid plans. Unexpected expenses and slow-paying customers can cause cash flow to fall to dangerously low levels. While larger companies may be able to turn to more traditional solutions, such as […]
A Comprehensive Guide to RBI’s Digital Lending Guidelines for Fintech Companies
India’s digital lending market has grown exponentially in the last decade, from a modest $9 billion to nearly $270 billion in 2022. But the sector was largely unregulated. The digital lending guidelines, which took effect on December 1, 2022, are considered a proactive and progressive step by the Reserve Bank of India (RBI) as the […]