50% of people who want a loan and have access to the internet in India prefer to buy it online. It is stats like these that prove today’s consumer wants the ease of swift loans available without the hassle of dozens of bank visits. And this demand is not limited to loan origination. They want […]
How Lenders Can Benefit from Automated Loan Processing Systems
An automated loan processing system has become a strategic necessity for modern lenders, not just a technological upgrade. With rising default rates, shrinking creditworthy segments, and heightened customer expectations for digital-first experiences, traditional loan workflows can no longer keep up. Manual data entry, fragmented systems, and paper-heavy processes introduce delays, errors, and compliance risks that […]
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. […]