One of the most crucial stages in the process of loan servicing, loan origination, has seen a revamp in recent times. UI design and service delivery have become essential considerations for lenders choosing loan origination systems for their lending platforms. A lender’s choice of loan origination process is what makes them different from the rest […]
Here’s How RPA Can Boost Loan Origination Process
As the times evolve, borrowers become more and more demanding about the kind of conveniences that a lending business offers. Not only do they hope to enjoy seamless and hassle-free access to loan products and services in accordance with their needs, but they also gain access to these services at their preferred place, time, and […]
Understanding Core Banking Solution (CBS)
A back-end system that efficiently processes banking transactions across the various branches of a bank, core banking is the future of banking as well as the lending industry. Core banking allows inter-connectivity between branches of the same bank and facilitates management of deposit, loan, and credit processing. With CBS, customers can operate their accounts as […]
India’s Neo-Banks: Lessons to Learn for Traditional Indian Banks and Lending Businesses
Initiatives like ‘Digital India’ and intense focus on the rapid adoption of digital technology propels the Indian banking industry towards a digital-only future. Rapid digital innovation in payments and transformation in systems enabled by digital technologies is widespread around the lending industry. This has given rise to the New-Age Digital Banks…also popularly called the ‘Neo-Banks’. […]
Micro Finance in India: How it Has Evolved over the Years?
It all began when the economist cum professor Muhammed Yunus from Bangladesh began making small loans to poor families in neighboring villages in an effort to break their cycle of poverty during the countrywide famine of the 1970s. His loans were successful in elevating the poor families, and he received timely repayment. Unsuccessful in further […]
Impact of Digital Lending on Small & Medium Enterprise Growth
India’s GDP is set to grow at a fast pace, outstripping major world economies, in spite of the global financial crisis that struck hard. SMEs are one of the chief drivers behind India’s magnificent growth story. SME sector comprises of self-funded proprietary firms, private co-operatives, private self-help groups, Khadi, and Village and Coir industries. They […]