NBFCs and MFIs are increasingly strategizing ways to grow and compete in the largely untapped arena of commercial lending, in a rapidly evolving market. There is a massive opportunity for lenders to leverage on the opportunity to serve their business customers better, contribute to their bottom lines, and garner higher returns for their benefit in […]
India’s Neo-Banks: Lessons to Learn for Traditional Indian Banks and Lending Businesses
Initiatives like ‘Digital India’ and intense focus on the rapid adoption of digital technology propels the Indian banking industry towards a digital-only future. Rapid digital innovation in payments and transformation in systems enabled by digital technologies is widespread around the lending industry. This has given rise to the New-Age Digital Banks…also popularly called the ‘Neo-Banks’. […]
Micro Finance in India: How it Has Evolved over the Years?
It all began when the economist cum professor Muhammed Yunus from Bangladesh began making small loans to poor families in neighboring villages in an effort to break their cycle of poverty during the countrywide famine of the 1970s. His loans were successful in elevating the poor families, and he received timely repayment. Unsuccessful in further […]
Impact of Digital Lending on Small & Medium Enterprise Growth
India’s GDP is set to grow at a fast pace, outstripping major world economies, in spite of the global financial crisis that struck hard. SMEs are one of the chief drivers behind India’s magnificent growth story. SME sector comprises of self-funded proprietary firms, private co-operatives, private self-help groups, Khadi, and Village and Coir industries. They […]
How Data-backed Strategies Help with Profitable Loan Collections
Lending businesses today are hopeful of achieving enhanced productivity, earn customer advocacy and bring home higher returns thanks to the digital revolution that is fast unfolding. Emerging technologies in the fintech world have resulted in improved transparency and regulatory compliance. We can see a handsome impact on consumer debt collection landscape in the market, due […]
Key Things to Consider when Investing In a Lending Management System
A lending management system can turn around the way the business runs at a lending firm by streamlining the core business functions at the company. Regardless of the size of the lending business, a quality loan servicing software can not only save time and money for a business but also please the end customers of […]