In the last few years, the lending software industry has witnessed a surge in the number of startups aiming to bolster the credit ecosystem in India. This spurt mirrors a global trend, with international lending platforms seeking to capture increased market share. Also, we have to note that the global digital market, estimated to be […]
Lending Software Solutions: Enhancing Portfolio Yield
The financial service industry is witnessing a radical shift propelled by changing business models, disruptive technologies and mounting compliance pressure. An Accenture Global Financial Services Consumer survey suggests that delivering unified customer experiences, staying competitive, keeping up with technology, data security and staying regulatory compliant are the top challenges for this sector. Fast-changing technology, which […]
Agile Lending: Faster Loan Disbursement and Lending Life Cycle
The Indian lending market grew 11.1% annually in FY 2022 as compared to March 2021, according to a Credit Bureau report. This growth presents many opportunities but also gives way to several concerns regarding the slow and unsatisfactory nature of traditional lending practices. To address this issue, financial institutions increasingly turn to agile lending practices […]
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 […]
Future of Credit Underwriting Software and its Impact on Business
In today’s digital age, credit underwriting plays an integral part in determining the financial viability of businesses and individuals. According to reports from Experian and Praxis Global Alliance, India reached an impressive milestone of USD 270 billion in digital lending in 2022. Disbursements also saw an uptick of 11%. To keep up with this growth, […]
The Importance of Bank Statement Analysis Software in Fraud Detection
In terms of numbers, digital lending companies in India witnessed a compound annual growth rate of 39.5 % over the last 10 years. While this is an encouraging statistic, the digital lending industry is also witnessing more cases of fraud. According to a report by the Reserve Bank of India, in the first half of […]