The growth of Non-Performing Assets (NPAs) continues to be a top concern for digital lenders, today. According to reports, Indian banks continue to face challenges in recovering debt. India’s 39 Debt Recovery Tribunals (DRTs) and five Debt Recovery Appellate Tribunals (DRATs) struggle to cope with the volume of cases. Though 60,000 new cases are reported […]
Evaluating Loan Origination Software: 9 Critical Questions to Ask
When lenders choose a suitable loan origination software (LOS), it can significantly boost their operational efficiency, improve customer experience while mitigating security risks and providing a competitive edge. According to a 2024 study, loan origination systems that incorporate automated workflows, mobile features, and e-signing capabilities can reduce loan processing times by up to 30%. However, […]
Unlocking Opportunities: Loan Management Systems and Financial Inclusion in India
India, a rapidly growing economy with over 1.4 billion people, faces significant challenges in financial inclusion. Since independence, its banking sector has evolved through four distinct phases: Pre-social banking (1950-1969), Social banking (1969-1990), and two Liberalisation periods (1990-2005, 2005-present). Despite rigorous efforts to attain financial inclusion, around 11% of India’s adult population is underbanked even […]
Scaling Your Lending Business with Cloud-Based Lending Software: A Growth Strategy
In the last five years, the lending industry has grown increasingly competitive, with banks, lending platforms, payment apps, and non-banking financial companies (NBFCs) competing for a piece of the pie. Simultaneously, there’s great potential for data-driven, future-thinking lenders to accelerate growth by capitalising on under-tapped market opportunities. For instance, the Micro, Small, and Medium Enterprise […]
5 Tech Trends Revolutionising Lending Lifecycle Management
There is a stark contrast between India’s current financial landscape and its state in the 2000s primarily due to the influx of fintech companies. The confluence of technology and finance combined with the increasing demand for convenient and user-friendly financial services are shaping India’s economic ecosystem. While traditional banks and financial institutions have served the […]
Unlocking Efficiency: The Corporate Lending Software Revolution
In loan servicing and commercial lending, it is essential to efficiently manage paperwork, cash flow analysis, and other time-consuming tasks. Since loan administration requires excellent precision, timeliness and accuracy are essential. Typically, manual and ineffective management is observed, particularly in companies whose primary business isn’t corporate lending, like intent company loans and ancillary financing. Corporate […]