Thе lending sеctor is undеrgoing a transformativе phasе known as decentralised finance (DеFi). In India, its emergence has been nothing short of rеvolutionary. Among its many facеts, DеFi lеnding stands out as a pionееring forcе rеshaping traditional borrowing and lеnding practices. Dеfi has surgеd forward, amassing an imprеssivе amount of capital in a rеmarkably briеf […]
Understanding the Mechanism Behind Automatic Classification of Bank Transactions
The revenue growth and profitability of a lending business depend on several factors. A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. Access to superior data plays an important role in this process. For instance, the ability […]
How to Generate and Use Insights From Bank Transaction Data Analysis
In consonance with the demand of a digitised market, a growing number of businesses are shifting toward a data-driven work culture. However, poor-quality data remains a pain point across industries. A 2023 survey by McKinsey indicates that 60% of technology executives considered poor data quality as the main roadblock to scaling their data solutions. The […]
Streamlining Lending Process With Bank Statement Analysis Report
The lending process comes with some inherent risks; there is always a likelihood that the borrower may default on payments or delay paying instalments. So, lenders typically employ a combination of tools and strategies to manage and reduce the risk associated with lending. A bank statement analysis tool is one such solution that helps them […]
Digital Lending Models Propel India Closer Toward Financial Inclusion Goals
India is a young and developing economy with a population of more than 1.4 billion people. Until the last decade, the country grappled with various challenges across multiple fronts, hindering its overall progress. While most of the problems still exist, we focus on one particular area that deserves the limelight and widespread appreciation: India’s push […]
Evaluating Invoice Financing Options to Improve Cash Flows and Lending Opportunities
Businesses of all sizes experience cash flow challenges at some time or another. One unique circumstance is when a business receives a sizable order from a client. However, in many cases, they cannot fulfil the order due to a lack of funds to produce the product. For instance, they may be unable to order raw […]