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, […]
How Effective Are Online Loan Management Systems in India?
TL;DR: Very effective. This is especially true in the aftermath of COVID-19. BCG’s Digital Lending report states that online lending in India will be worth upwards of $1 trillion by 2023. The estimate is evidence that fintech solutions like loan management systems are abundantly useful. It is the benefits they bring to lenders that make […]
Best Gold Loan Management System: Features to Look For
Gold loans have been one of the oldest forms of secured lending in India for centuries. Being a highly liquid asset, gold is the preferred collateral for many lending companies. Several financial institutions, including banks and NBFCs, have gold loans as an integral part of their business lending strategy. Challenges Faced By Lending Institutions in […]
Loan Management Systems in India: A Perspective Pre and Post Pandemic
COVID-19 has resulted in an unprecedented economic crisis, and there has been many disruptions and dramatic changes right from consumer spending to government operations. The lending sector in India is no exception to this rule, and it will also undergo a paradigm shift. There will be a change in the way lenders approach customers and […]
The Current Scenario of Banking as a Service (BaaS) in India
While the COVID-19 pandemic has dramatically impacted the traditional banking system, it also has helped digital banking to gain rapid acceptance. Meanwhile, Indian Fintechs are flourishings and touching almost every banking value proposition. With the government’s push towards digital initiatives, there’s no doubt that we will be witnessing more digital financial products in the future. […]
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 […]