Credit plays an integral part in the economic progress of a country and an individual; credit helps fulfil goals and aspirations and aids in development. Individuals and businesses require different categories of credit facilities depending on the requirements, and lenders offer diverse credit products to meet the needs of their customers. Three primary types of […]
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 […]
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 […]
Maximising Financial Efficiency: How Lenders Benefit from Adopting Virtual Credit Card
According to Juniper research, virtual card transactions are projected to reach 175 billion by 2028. As identity theft remains a constant concern, virtual card numbers provide a secure alternative for online transactions, offering peace of mind while simplifying payments. These numbers offer a secure, streamlined way for both individuals and businesses for payments. Today, lenders are […]
Implementing Automated Bank Statement Analysis: Best Practices
Automated bank statement analysis is transforming the financial landscape, as paper-based statements have given way to online digital statements, which are more customer-friendly and prevent fraudulent transactions. In general, bank statement analysis involves scanning and reviewing financial statements to gain insights into a person or organisation’s financial health to ascertain their income and repayment capacity. […]