The loan origination procedure is critical in the financial industry because it allows individuals and organisations to obtain the capital they require for a variety of purposes. However, this lifecycle is frequently time-consuming and resource-intensive and can result in delays and inefficiencies. With improvements in technology and automation, financial institutions now have the ability to […]
Commercial Loan Origination Software to Accelerate Loan Processes
Traditionally, securing a commercial loan was anything but a cakewalk. From assessing a range of parameters, including the business’s credit history and financial statements, to calculating collateral requirements before finally approving the loan, -the process is evidently time-consuming and lengthy. Additionally, multiple teams from various business units that are at times located in different cities […]
Cloud-based Loan Management Software: Shaping Future of Data-driven Loan Management
The renowned marketing and customer experience guru Jay Baer once said, “We are surrounded by data, but starved for insights”. This suggests that despite having easy access to large pools of data, many businesses do not have the means to extract relevant insights from it. We could see a similar theme across the global lending […]
Loan Management System in India: Ensuring Data Security and Confidentiality
With the emergence of digital lending platforms and increasing reliance on technology for loan management, India’s financial environment has experienced a substantial transition recently. The digital lending market in the country has experienced significant development in recent years. According to a Boston Consulting Group (BCG) survey, the digital lending market is anticipated to reach an […]
Agile Lending: Faster Loan Disbursement and Lending Life Cycle
The Indian lending market grew 11.1% annually in FY 2022 as compared to March 2021, according to a Credit Bureau report. This growth presents many opportunities but also gives way to several concerns regarding the slow and unsatisfactory nature of traditional lending practices. To address this issue, financial institutions increasingly turn to agile lending practices […]
4 Reasons Why Cloud-Based Loan Management Software Is a Gamechanger for Lenders
A Gartner report indicates that around 51% of total IT spending will shift from conventional on-premise solutions to the public cloud. We see a similar shift in the financial sector, according to an O’Reilly Cloud Adoption 2021 Report. The report further suggests that the finance and banking sector is the third highest adopter of cloud […]