Businesses need substantial working capital to maintain their cash flow, ensure smooth functioning, and boost profitability. With time, many small lenders have made a tremendous impact by availing credit to businesses in sectors such as small and medium enterprises (SMEs), agriculture and education. This has also led to difficulty in getting capital for non-banks to […]
Four Loan Recovery Techniques Every Lender Must Know About!
Every lending operation is two-way traffic, which generally involves extending a loan and then recovering that loan. However, the ground reality is far from being two-process simple. Many financial institutions and lenders have to bear the brunt of delinquent loans despite keeping numerous checks in place. And if these loans are left unchecked, their bulk […]
Problems of Microfinance in India and the Way Ahead
Poverty is a significant economic problem in the majority of the developing world. In most rural areas of India, agriculture is the principal source of revenue. Agriculture employed 42.6% of India’s workforce in 2019. However, the rural community has been largely cut off from official financial institutions, resulting in poor performance Microfinance raises household income […]
What Makes CBS a Vital Component of Banking in 2022
Advancement in banking tech has enabled a significant shift in how banks operate. The implementation of the Core Banking System or CBS, for instance, is one of the most innovative developments that has revolutionised conventional banking systems. According to the Market Research Future (MRFR) research, the worldwide CBS in banking is highly lucrative and expected […]
The Coming of Age of Fintech-as-a-Service (FaaS)
With Fintech, the financial sector has rapidly adapted to the changing technology landscape. Fintech has enabled financial institutions and banks to provide personalised digital services. This increasingly popular solution is known as Fintech-as-a-Service (FaaS). FaaS provides a complete stack of payments, commerce, and financial services capacities integrated into any application – web or app. This article […]
How Collaborative Lending Can Extend Credit to the Underbanked
Governments globally have strived hard to usher in financial inclusion within their respective economies sustainably and responsibly. Yet, the undeniable truth is staring; most of the population has moved from being unbanked altogether to being underbanked. However, this large chunk of people can maintain bank accounts, perform transactions etc., on their digital devices, all thanks […]