Salesforce changed the course of the enterprise-grade loan recovery software industry when the company rolled out a software-as-a-solution (SaaS) CRM in 1999. Over the next few decades, cloud-based SaaS solutions garnered immense popularity, replacing on-premise solutions across various sectors. A Gartner study projected that global SaaS spending will likely reach $195 million by the end […]
How Automated Loan Processing System Is Helping Lenders Cut Costs
The lending industry has grown exponentially in the last few years. A mix of automated loan processing system, banks, and Non-Banking Financial Companies (NBFCs) are aggressively growing their loan verticals. On top of that, several payment platforms and eCommerce companies are also entering the highly competitive lending space. In the third quarter of 2023, digital […]
Transforming the Lending Life Cycle with AI and Data Analytics
The digital lending life cycle space in India is growing exponentially. The Research and Market Report revealed the Indian Digital Lending Platform Market is anticipated to grow at a CAGR of 27.95% and grow to $2507.55 million by 2027. Artificial Intelligence (AI) and data analytics are helping lenders sustain and fuel this growth via a […]
Managing Credit Risk Analysis and Scoring Using Lending Management Software
Credit risk analysis is a vital process that helps lenders assess the possibility of the borrower defaulting and the loss they may incur if the borrower fails to repay the contractual loan obligations. It often goes beyond credit analysis, primarily focusing on the borrower’s creditworthiness. In contrast, credit risk analysis assists a lender in achieving […]
Crucial Features and Capabilities of Micro Loan Management Software
Micro loans play a crucial role in promoting financial inclusion and aiding small businesses. 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. According to a recent report by Grand View Research, the […]
Role of Digital Lending Solutions in Emerging Markets
The digital lending industry has transformed the landscape of borrowing and lending money. Today, traditional banks are not the only option for financing. Digital lending solutions have evolved as potent catalysts for economic growth and financial inclusion, predominantly in emerging markets. Experts predict that the digital lending sector will reach a massive USD 1.3 trillion […]