One of the most crucial stages in the process of loan servicing, loan origination, has seen a revamp in recent times. UI design and service delivery have become essential considerations for lenders choosing loan origination systems for their lending platforms. A lender’s choice of loan origination process is what makes them different from the rest […]
Here’s How RPA Can Boost Loan Origination Process
As the times evolve, borrowers become more and more demanding about the kind of conveniences that a lending business offers. Not only do they hope to enjoy seamless and hassle-free access to loan products and services in accordance with their needs, but they also gain access to these services at their preferred place, time, and […]
Myths of Invoice Financing Busted: Does it Benefit a Lender?
The lack of credit is one of the biggest challenges facing India’s Micro Small and Medium Enterprises (MSME), which represent a lucrative market for banks and NBFCs. A study conducted by IFC Intellecap in June 2019 revealed that 80% of India’s 55.8 million MSMEs, in both the manufacturing and service sectors, were in dire need […]
7 Challenges faced by Microfinance Institutions
The majority of developing nations are struck with poverty as a leading roadblock to their progress. The main factor that influences the widespread poverty in regions like India is the massive disparity in income distribution. Being an agrarian economy primarily, more than half of the Indian population sustains on agriculture and allied activities. Both the […]
How to Ease the Lending Process through Bank Statement Analysis?
An applicant’s bank statement gives a periodic view of all the transactions undertaken by them including deposits, withdrawals, transfers, debit card payments, interest earned, bank service fees, as well as the other instalments they are paying. Lenders analyze the frequency of the transaction to estimate an applicant’s ability to repay the loan in time. Analyzing […]
Understanding Core Banking Solution (CBS)
A back-end system that efficiently processes banking transactions across the various branches of a bank, core banking is the future of banking as well as the lending industry. Core banking allows inter-connectivity between branches of the same bank and facilitates management of deposit, loan, and credit processing. With CBS, customers can operate their accounts as […]