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 […]
The Future of Financing Trends with NBFCs
NBFCs are key players when it comes to the objective of financial inclusion that India aims to achieve. It caters to unbanked and underbanked sections of Indian society. Additionally, they provide the credit demand of MSMEs too. Through direct and indirect involvement, they transform sectors like transportation, employment generation, wealth creation, bank credit in rural […]
Here’s What 2020 Has in Store for NBFCs
NBFCs have become an integral part of the Indian lending landscape over the years. Since their inception in the 1960s, they have helped to provide a range of financial services to consumers and businesses across the country. As of March 2019, the total number of registered NBFCs in the country stood at 9,659. Despite the […]