Accounts receivable financing or debt factoring is a common business financing practice. Businesses can sell their accounts receivable to a third party, called a factor, at a discount. However, factoring could be an excellent solution for companies to try to cash in on their account receivables, control cash flow, and keep the business afloat. Factoring […]
Ways Loan Management Software Accelerate Transparent Lending
Ever wonder how India’s banking systems got so high-tech? From the first ATMs in the 2000s to today’s cutting-edge innovations, India’s financial landscape is transforming at breakneck speed. Government initiatives and fintech breakthroughs are fueling this revolution, making banking more efficient, inclusive, and transparent for everyone. Lending was one of the major areas that was […]
Why Cloud-Based Loan Management Software is the Future
Today, potential business or individual borrowers seek an efficient user experience for the loan application process, loan approvals and disbursals, and EMI payments. Lenders looking to meet and exceed user expectations must work with technology that crafts a superior experience. In turn, they improve the potential to turn leads into customers and accelerate business growth. […]
Lending Life Cycle Management: Challenges and Best Practices
The lending life cycle consists of all activities that begin at the loan application stage and culminate with the final repayment. It involves due diligence regarding customer background by the lenders, regulatory compliance, and financial processes for the lender. However, many lenders encounter multifaceted challenges at various loan stages, including the critical tasks of risk […]
Line of Credit vs. Traditional Loan: Which One is Right for Your Lending Business?
In lending, financial institutions continually seek flexible and potentially lower-risk financing solutions to meet the evolving needs of businesses. Whether a startup or an existing business, the choice between issuing a line of credit or a traditional loan can have a considerable impact on an organisation’s risk exposure, profitability, and relationship with its customers. From […]
Loan Origination System vs. Loan Management System: Understanding the Differences
Loan applicants today expect a quick, convenient financing process from the first step to funds arriving in their account. Lenders now rely on ever-evolving technology to meet these expectations. For example, they leverage reliable systems to track each step of the process through origination and its payment lifecycle. A sound understanding of loan origination and […]