Decentralised Finance (DeFi) is an umbrella term for a financial system built on blockchain technology. It aims to provide an open, permissionless, and decentralised alternative to traditional financial setups. Compared to the conventional loan management process, DeFi lending does away with intermediaries, connecting the lender and the borrower directly. The global decentralised finance market was […]
Leveraging Cloud Integration for Reporting and Analytics in Loan Management Software
If there is any secret to staying long-relevant in a highly competitive sector, adaptability and flexibility come at the top. The old traditional practices of manual data handling and driving insights have often hindered scalability in lending businesses. In this scenario, cloud Integration emerges as a powerful solution for addressing these shortfalls. Cloud computing can […]
Open Banking vs Platform Banking: Implications for Traditional Banks
Traditional banks often struggle to adapt due to a lack of innovation and personalised services, leaving them vulnerable to disruption. Open banking addresses these issues by securely enabling data sharing between banks and approved third parties via application programming interfaces (APIs). This collaborative method sharply contrasts with traditional banking’s siloed data model. India’s open banking […]
Embedded Finance: Security Challenges and Some Emerging Solutions
The traditional banking setup has seen a complete overhaul with increasing technological advancements. It may seem like a new world, from loans in 59 minutes to digital wallets. All this has been made possible by embedded finance, which allows the integration of financial services into non-financial services. Its ecosystem is anticipated to grow at a […]
Some Ethical Considerations in AI-Driven Bank Statement Analysis
Artificial intelligence (AI) is set to become an integral part of the financial landscape, including balance sheet analysis for decision-making. AI-powered solutions can help lenders improve efficiency by reducing processing time and increasing productivity. While its integration offers numerous benefits, the use of AI in the financial domain also raises some ethical concerns like the […]
Tackling NPA: How Advanced Lending Software Solutions Are Helping Indian Banks
The growth of Non-Performing Assets (NPAs) continues to be a top concern for digital lenders, today. According to reports, Indian banks continue to face challenges in recovering debt. India’s 39 Debt Recovery Tribunals (DRTs) and five Debt Recovery Appellate Tribunals (DRATs) struggle to cope with the volume of cases. Though 60,000 new cases are reported […]