India, a rapidly growing economy with over 1.4 billion people, faces significant challenges in financial inclusion. Since independence, its banking sector has evolved through four distinct phases: Pre-social banking (1950-1969), Social banking (1969-1990), and two Liberalisation periods (1990-2005, 2005-present). Despite rigorous efforts to attain financial inclusion, around 11% of India’s adult population is underbanked even […]
Scaling Your Lending Business with Cloud-Based Lending Software: A Growth Strategy
In the last five years, the lending industry has grown increasingly competitive, with banks, lending platforms, payment apps, and non-banking financial companies (NBFCs) competing for a piece of the pie. Simultaneously, there’s great potential for data-driven, future-thinking lenders to accelerate growth by capitalising on under-tapped market opportunities. For instance, the Micro, Small, and Medium Enterprise […]
Microfinance Lending Gains Autonomy: RBI’s Move to Lift Pricing Caps
Recently, thе Rеsеrvе Bаnk of Indiа (RBI) tоok а grоundbrеаking stеp by lifting pricе cаps оn micrоfinаncе lending. This decision can exert аn significant impact on non-banking financial company-microfinance institutions (NBFC-MFIs). This stratеgic shift aims to harmonisе thе rеgulatory landscapе for all microfinancе lеndеrs, including banks, thеrеby crеating a morе lеvеl playing fiеld. Thе nеw […]
Strategies for Effective Collection Delinquency Management
The lending landscape is continually growing, with a mix of banks, neo-banks, Non-Banking Financial Companies (NBFCs), and payment apps offering a mix of consumer and business loans. However, collection delinquency management is emerging as a key challenge for lenders in an era when it is considerably easier to access a loan. However, traditional collection strategies, […]
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. […]