Credit bureaus and credit rating agencies are easily confused, especially because credit bureaus are also referred to as “credit reporting agencies.” Credit bureaus, such as Equifax, Trans Union CIBIL, and Experian are agencies that give information about an individual’s creditworthiness. They provide credit reports and credit ratings to creditors, such as banks, to assist them […]
What Does Embedded Finance and APIs Mean for the Lending Industry?
Never before have the times been more volatile and dynamic as now. Recession coupled with regulatory pressures, financial reforms, and the recent global pandemic has not made anything easier for the legacy lending industry. As a result, the lending industry faces several challenges while approving and disbursing loans. Cultural Shift: Traditional lending institutions work through […]
Automated Loan Processing System: What is it and How Can It Benefit Lenders?
In the post-pandemic era, banks and other lending institutions are in a challenging position with higher volumes of non-performing assets, increasing default rates, and reduced consumer spending, leading to reduced profits. However, to kick-start the economy, the financial service providers must upscale the credit granting process with an automated loan processing system. This is, however, […]
Top 4 Credit Bureaus in India that Every Lender Trusts
We often talk a lot about credit bureaus and know that they are responsible for generating our credit scores. The credit information provided by these bureaus is used by various providers and businesses who want to assess the financial health and background of an individual. Let’s take a closer look at the prime functions of […]
Exploring Finezza’s Loan Management System: Features and Benefits
Amid reports of slowing credit growth owing to the coronavirus crisis, lenders are looking to streamline their operations and eliminate inefficiencies. From shutting down non-profitable branches to digitising workflows, there is a clear push to cut costs and increase customer engagement. Automated loan management systems with built-in analytics are attracting a lot of interest from […]
Financial Inclusion in India Beyond COVID-19
Global unsettling repercussions of the COVID-19 pandemic led to strict lockdown implementations in developing countries and emerging economies alike. Countries witnessed their social and economic life came to a complete standstill, which adversely affected the lives of millions of people. The aftermath is massive suffering for the low-income strata and struggles for survival for the […]