“What is your biggest challenge in initiating the loan process?” This was the question posed to bankers in a recent survey by Moody’s Analytics. The Answer: 56% of bankers reported manual data collection and further back and forth talks with client. The commercial lending landscape to tackle the above issues has begun to witness a […]
How Social Media Can Help You Assess A Loan Application
Today, everybody has a strong social media presence, no matter if your an individual or a business entity. Even though the social media platform has been subjected to a lot of criticism for invasion of privacy, it has served as a valid medium for revealing insights into a company’s intentions and legitimacy. This data is […]
Signs Of Business Loan Fraud And How It Can Be Prevented
The advent of new technologies has paved the way for a new era of financial services within the digital ecosystem. Thanks to the milieu of fintech companies, small to medium-sized businesses can get access to capital resources easily. However, with new pathways, opportunities are rife for sophisticated fraud strategies, greatly harming the financial services industry. […]
GST: A New Data Source For Fintechs To Assess Loan Applications
When the government first introduced the Goods and Services Tax (GST) in 2017 to the Indian economy, there were several concerns about crossing over to this new tax regime. As it happens with every change, the new tax regime was not readily accepted by all. Nevertheless, it helped to re-organise the small and medium enterprises […]
14 Factors To Consider Before Zeroing In On A Loan Management Software!
Are you struggling with a manual loan management process? Or are you unable to cope with disparate loan origination and management systems that offer a fragmented view of the process? Cut down all the paperwork and make your loan management process cost-effective with a singular loan management software that solves all your needs. An automated […]
Why Using A Credit Score From A Single Credit Bureau Isn’t Good Enough
When it comes to deciding the creditworthiness of a person applying for a loan, the credit score plays a very important role. Whether it’s for business, or major financial investments such as buying a house, or a car, most lending institutions consider the credit score as an eligibility criterion. Not just that – telecom/mobile companies […]