Today, a growing number of Non-banking Financial Companies (NBFCs) face immense pressure to drive higher returns. In the pursuit of this goal, some NBFCs are engaging in irregular practices, which can invite strict action by the Reserve Bank of India (RBI). For instance, the RBI recently imposed restrictions on four NBFCs that were charging exorbitantly […]
The Digital Lending Revolution: Startups vs. Big Banks
Despite their best efforts, established banks often suffer from manual approaches and outdated processes. Vis-a-vis modern customer expectations of a quick approval time and flexible digital lending, these barriers usually force borrowers to seek alternate solutions. Fintech startups and lending businesses aim to close this exact gap. But the question is, how well-stacked are the […]
The Rise of UPI Credit Lines: Why Traditional Credit Card Management Systems Fall Short
The Reserve Bank of India (RBI) introduced Credit Line on UPI in September 2023, a move designed to bridge credit gaps and make credit more affordable and convenient for the underserved population. Additionally, the decision could also encourage credit card users to switch to UPI credit lines, providing a seamless credit alternative other than conventional […]
What are the Key Features to Look for in Loan Origination Software?
Lending is a dynamic industry. To succeed, lenders must adapt to evolving regulations, industry practices, and customer expectations. In this context, embracing automation and digitisation can help them streamline their operations and adapt to changing needs. The loan origination software(LOS) can be a useful instrument, allowing lenders to make the loan application and disbursal processes […]
Future of P2P Lending and Its Direct Impact on Loan Origination Systems
Peer-to-peer (P2P) lending became a global phenomenon after the 2008 financial crash, emerging as a reliable alternative to traditional financial institutions including banks. While P2P lending businesses started entering the Indian market in 2014, it wasn’t until 2017 when the Reserve Bank of India (RBI) issued guidelines suggesting that all P2P service providers must be […]
Revolutionising EMIs: How CLOU (Credit Line on UPI) is Redefining India’s Credit Landscape
The launch of UPI in 2016 has transformed the financial landscape in India. However, there remained a gap in how the credit was accessed. India’s credit access and repayment system is a lengthy and cumbersome process that feels like a trap more than a solution. The introduction of CLOU (Credit Line on UPI) is set […]