The COVID-19 pandemic has disrupted the growing world of small and medium-sized enterprises (SMEs). As with so much else in the downturn, the rules for the lending industry supporting these businesses need to be re-written. SME lending is a vital form of external finance to sustain small businesses and meet their cash flow and investment […]
Automated Loan Processing System: What is it and How Can It Benefit Lenders?
In the post-pandemic era, banks and other lending institutions are in a challenging position with higher volumes of non-performing assets, increasing default rates, and reduced consumer spending, leading to reduced profits. However, to kick-start the economy, the financial service providers must upscale the credit granting process with an automated loan processing system. This is, however, […]
Loan Management Systems in India: A Perspective Pre and Post Pandemic
COVID-19 has resulted in an unprecedented economic crisis, and there has been many disruptions and dramatic changes right from consumer spending to government operations. The lending sector in India is no exception to this rule, and it will also undergo a paradigm shift. There will be a change in the way lenders approach customers and […]
Fraud Detection and Prevention in the Fintech Space
The Fintech industry is leading the digital transformation among all the industries. Gone are the days when customers visited physical branches of banks or NBFCs for every operational and transaction need. Today, almost all banks and NBFCs provide online services through multi-channels like web, mobile, tab, pos machines, ATMs, smartwatches, smart voice assistants, etc. However, […]
How Your Digital Footprint Will Affect Your CIBIL Score
The lending and financial landscape are evolving thick and fast all over the globe. The rate has almost been exponential last year due to the pandemic-borne realignments. For a lending institution to have a tech-savvy mobile app and a digital lending strategy is no longer “good to have” but has become a “must-have”. The potential […]
Top Fintech Trends to Watch Out for in 2021
It’s fair to mention that 2020 has been the year of disruptions in almost all industries. The pandemic that swept the world, totally altered the way businesses operate. Suddenly, remote and digital channels became primary for most businesses, especially during the times when there were strict restrictions in moving out freely. Some industries were heavily […]