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 […]
Finezza’s Document Identification Framework: Enhancing Lender Accuracy
When potential borrowers apply for a loan, they must submit a wide range of documents, from identity documents to financial documents such as bank statements. As the number of loan applicants escalates and the volume of documents grows, lenders face a unique challenge. They struggle to extract raw data efficiently, accurately, and quickly from such […]
Understanding the Growing Threat of Identity Theft in the Lending Industry
The lending industry has been a crucial player in financial transactions in recent years. From mortgages to personal loans and credit cards, individuals rely on lenders for their financial needs. However, amidst this reliance, a pressing issue is on the rise – identity theft, a risk that demands immediate attention. Identity theft has become a […]
The Rise of Virtual Credit Card Fraud: What Lenders Need to Know
With 67% of the 2000+ Fintech startups incorporated in the last five years alone, the world of digital payments in India is changing fast. Amidst this boom, virtual credit cards have revolutionised digital transactions with their ease of use. However, this innovation has also paved the way for a concerning rise in virtual credit card […]
Mitigating Risk in Debt Factoring: Underwriting Best Practices
Accounts receivable financing or debt factoring is a common business financing practice. Businesses can sell their accounts receivable to a third party, called a factor, at a discount. However, factoring could be an excellent solution for companies to try to cash in on their account receivables, control cash flow, and keep the business afloat. Factoring […]
How Do Virtual Credit Card Numbers Work: Implications for Lenders
The rapid transformation of the financial sector demands innovative digital solutions. To keep up with the pace, lenders are seeking cutting-edge solutions to help deal with modern challenges, such as identity thefts, while ensuring seamless user experiences. Virtual credit cards (VCCs) have emerged as a transformative tool. They offer a solution to the safety problem […]