When spreadsheets were first launched in 2006, this brand-new innovation revolutionised the way businesses processed and stored financial data. In particular, financial institutions benefit because spreadsheets automate several tasks With the acceleration of digital transformation over the last three years, the amount of data being generated has increased exponentially. For instance, the number of digital […]
Decoding the Importance of NBFC Loan Management Software for Lending Business
Non-Banking Financial Companies (NBFCs) are making a behind-the-scene yet significant impact on the Indian economy. Despite not having a traditional banking license, they promote financial inclusion, support economic development, enhance innovation, and deepen financial markets. A report by the Reserve Bank of India (RBI) reveals that the share of NBFCs in the total credit extended […]
How Commercial Loan Management Software Powers Digital Transformation
The demand for rapid access to credit in business is continually growing. Businesses across all segments, but especially in the Micro, Small & Medium Enterprise (MSME) segment, seek access to funds to accelerate business growth. Experts predict that business loans to MSME borrowers will rise by 20% in the festive season, especially as consumer spending […]
Unlocking Financial Inclusion with Microloan Management Software
Historically, poor credit penetration results in the marginalised sections of society like low-income households, women and Micro, Small, and Medium Enterprises (MSMEs) being excluded from the formal lending channels. However, the MSME sector plays a critical role in the economic development of India. The share of MSME Gross Value Added (GVA) in India’s Gross Domestic […]
Crucial Features and Capabilities of Micro Loan Management Software
Micro loans play a crucial role in promoting financial inclusion and aiding small businesses and individuals in urgent need of funds. However, as demand rises, managing them becomes complex. To address this challenge, financial institutions adopt Micro Loan Management Software, an advanced tech solution that accelerates the loan origination and lifecycle process, adds flexibility and […]
Cloud-based Loan Management Software: Shaping Future of Data-driven Loan Management
The renowned marketing and customer experience guru Jay Baer once said, “We are surrounded by data, but starved for insights”. This suggests that despite having easy access to large pools of data, many businesses do not have the means to extract relevant insights from it. We could see a similar theme across the global lending […]