Lending is a big business in India, which both, directly and indirectly, touches upon all parts of the economy and people. Apart from the banking sector, several NBFC players contribute to a major percentage of the lending business. With millions of Indians holding loans worth crores of rupees, any technology that can make life easier […]
Digital Solutions And Debt Recovery Businesses Go Hand-In-Hand
Recouping unpaid debts is not always easy. From outdated information to gaps in communication, a whole host of reasons make debt recovery a hard business to manage. Fortunately, technology and tools can smoothen most wrinkles debt recovery businesses face. How Does Digitising Help Manage Your Debt Recovery Business? A McKinsey survey found that 73% of […]
Implementing Digital Borrower Onboarding Process during COVID-19
At the onset of the pandemic, factors like the dependence on physical processes and the lack of adequate infrastructure collectively brought the lending to a standstill. The lending rate touched all-time lows in the country, and the limited applications that were processed were digital pre-approved loans to very select customers. Clearly, the only way to […]
How to Build an Early Warning System for your Loan Portfolio?
Indian banks are struggling with the aftermath of bad loans and NPAs they have faced in the recent past. Following the series of deteriorating trends, the banking stability indicator worsened further due to the global economic uncertainty in 2020. Gross non-performing assets (NPAs) of Indian banks are all set to worsen to 11.3-11.6 per cent […]
How Can Digital Transactions Grow With UPI 2.0?
With a targeted focus on the on-ground implementation of the Aadhaar program as well as Jan Dhan Yojana, India has been prosperous in spreading the banking facilities successfully throughout the economy. To add to the potent mix, The Unified Payments Interface (UPI) was introduced by National Payments Corporation of India (NPCI) in 2016. The Unified […]
Fintech Trends to Watch Out for in 2020
Fintechs, as we know it, are a solution for lending companies looking to leverage technologically advanced business functionalities and financial processes. The massive popularity of digital payments, digital lending, insurance, wealth management, or Robo-advisory, Fintechs offer lucrative avenues to lending businesses that aspire to lead the industry. In 2019, Fintechs are revolutionizing the way companies […]