The Micro, Small and Medium Enterprise (MSME) market has been disadvantaged in the traditional banking ecosystem. Due to various factors, banks have prioritised credit to corporations and big businesses over small businesses. According to statistics, India has a total of 633.9 lakh MSMEs in India, comprising 630.5 lakh micro-enterprises and 3.3 lakh small businesses. The […]
6 Market Trends in Cloud-Based Lending Software: Decoded
The lending industry worldwide has grown extensively over the last few years. Lenders are on a spree to close the deficit in credit access within the business arena through digital innovation. As of 2022, the global digital lending platform market was valued at $ 9.56 Billion. It is projected to accelerate at a compound annual […]
How Lending Lifecycle Management Can Help Lenders Optimise Finances
The lending industry has become extremely competitive over the last few years. Traditional players such as banks and non-banking financial companies (NBFCs) have undergone digital transformation to keep pace with demand and unlock new opportunities. Several digital banks, neobanks, digital lending apps, and peer-to-peer lending platforms have mushroomed to make credit more accessible to a […]
Gear Up for Startup Success: The Superior Lending Software
In the last few years, the lending software industry has witnessed a surge in the number of startups aiming to bolster the credit ecosystem in India. This spurt mirrors a global trend, with international lending platforms seeking to capture increased market share. Also, we have to note that the global digital market, estimated to be […]
How Is Loan Against Invoices Helping SMBs and Their Suppliers: 5 Key Points
Micro, small and medium businesses (MSMB) is India’s second largest employment generator and constitutes nearly 30% of our GDP. Like other businesses across the globe, the Indian SMB industry also faced massive crises during the pandemic. But the sector quickly recovered and has shown resilient growth ever since. A vulnerable point for the small businesses, […]
Top Four Reasons to Be Ethical to Solve Problems of Microfinance
In the industrial economy of the 80s, microfinance emerged as an option to eradicate poverty. But due to high volumes and profitability, it has become heavily commercialised. The higher interest rates and over-indebtedness have led to a high suicide rate among borrowers. Which raises the question, “is it fair to maximize profits from the poor”. […]