Both lenders and borrowers are stressed during the lengthy loan origination phase for their own selfish reasons. The time and resource-consuming phase of loan processing often leave borrowers impatient and desperate. However, lenders loathe loan origination for the painstaking amount of time that goes into paperwork assortment, document verification and manual evaluation. The new wave […]
5 Benefits Of Digital Lending
The traditional process of loan disbursement used to be gruelling for borrowers and lenders alike. Wrought with inconveniences like in-person application submission & manual verification, it remained a dreadful exercise until recently when it changed and for the better. The lending landscape is witnessing a paradigm shift towards digitisation and automation. Digital lending involves managing […]
5 Common Lending Challenges Faced By NBFCs and How The Right Lending Lifecycle Management Software Can Help Overcome Them?
A significant component of modern Indian financial market, Non-Banking Financial Corporations (NBFCs) are fuelling the economy and for the better. The diverse credit outlet they offer to clients makes them the preferred choice of SMEs for loans, over traditional banker. NBFCs boast of highly customised services to suit the needs of particular clients. Common Lending […]
Here’s How You Can Assess A Loan Applicant With No Credit History
No lender wants to enter into a shaky alliance by giving out money to an applicant with poor track records. Still, no lender wants to let go of a chance to earn better revenues by lending money to an applicant either. So, how does a lender assess a loan application when the applicant has no […]
7 Ways To Make Debt Recovery Easier: Loan Recovery Strategies for Banks!
Loan disbursement, as we know it is only the beginning of a hopeful span of repayment period where a lender expects to receive small debt recovery payments. However, when left unmonitored, this period can run havoc on the revenues of the loan dispensing company. NBFCs, MFIs and other lending institutions often come under the […]
Understanding How DPD (Days Past Due) Is Important When Evaluating A Loan Application!
Deciding to accept or reject a loan can be a lengthy process of deliberation for financial institutions. While lending institutes all count in common factors like the type of loan, credit history and current liabilities, each one has a different procedure for the creditworthiness assessment of the applicants. All financial lending businesses want to ensure […]