At the onset of the pandemic, factors like the dependence on physical processes and the lack of adequate infrastructure collectively brought the lending to a standstill. The lending rate touched all-time lows in the country, and the limited applications that were processed were digital pre-approved loans to very select customers. Clearly, the only way to […]
How to Build an Early Warning System for your Loan Portfolio?
Indian banks are struggling with the aftermath of bad loans and NPAs they have faced in the recent past. Following the series of deteriorating trends, the banking stability indicator worsened further due to the global economic uncertainty in 2020. Gross non-performing assets (NPAs) of Indian banks are all set to worsen to 11.3-11.6 per cent […]
How Can Digital Transactions Grow With UPI 2.0?
With a targeted focus on the on-ground implementation of the Aadhaar program as well as Jan Dhan Yojana, India has been prosperous in spreading the banking facilities successfully throughout the economy. To add to the potent mix, The Unified Payments Interface (UPI) was introduced by National Payments Corporation of India (NPCI) in 2016. The Unified […]
How Digital Footprint Data is Shaping the Future of Credit Scoring?
With changes in the way transactions are processed and payments are made, the system for accessing risks or loan underwriting must also change. Lending companies are undoubtedly a susceptible target of fraudsters, especially in the times of digital banking. Where traditional credit scoring fails miserably during digital lending, digital footprints can help make up for […]
How Machine Learning Can Transform the Face of Financial Services?
Machine learning is enthusiastically integrating into our lives and changing how we make decisions every day. Machine learning technologies leverage historical data and user behaviours to predict patterns and make automated decisions. The rapid pace at which the machine learning technology is accelerating is leading businesses to change the way they operate. Applications of Machine […]
Decision Management System: A Safeguard Against Financial Risks
A sturdy decision management system can be a lender’s safeguard against financial risks that the credit evaluation process exposes them to. It harbours a promise of distinct competitive advantage to lenders with improved and flawless decision making. Fast-tracking the credit evaluation and risk management process at the lender’s end ensures increased financial security. It also […]