The lending industry has become extremely competitive over the last few years. Traditional players such as banks and non-banking financial companies (NBFCs) have undergone digital transformation to keep pace with demand and unlock new opportunities. Several digital banks, neobanks, digital lending apps, and peer-to-peer lending platforms have mushroomed to make credit more accessible to a […]
Decoding the Right Loan Recovery Software: On-premise vs SaaS
Salesforce changed the course of the enterprise-grade loan recovery software industry when the company rolled out a software-as-a-solution (SaaS) CRM in 1999. Over the next few decades, cloud-based SaaS solutions garnered immense popularity, replacing on-premise solutions across various sectors. A Gartner study projected that global SaaS spending will likely reach $195 million by the end […]
How Automated Loan Processing System Is Helping Lenders Cut Costs
The lending industry has grown exponentially in the last few years. A mix of automated loan processing system, banks, and Non-Banking Financial Companies (NBFCs) are aggressively growing their loan verticals. On top of that, several payment platforms and eCommerce companies are also entering the highly competitive lending space. In the third quarter of 2023, digital […]
Managing Credit Risk Analysis and Scoring Using Lending Management Software
Credit risk analysis is a vital process that helps lenders assess the possibility of the borrower defaulting and the loss they may incur if the borrower fails to repay the contractual loan obligations. It often goes beyond credit analysis, primarily focusing on the borrower’s creditworthiness. In contrast, credit risk analysis assists a lender in achieving […]
Optimising the Loan Origination Lifecycle: Key Steps and Automation Opportunities
The loan origination procedure is critical in the financial industry because it allows individuals and organisations to obtain the capital they require for a variety of purposes. However, this lifecycle is frequently time-consuming and resource-intensive and can result in delays and inefficiencies. With improvements in technology and automation, financial institutions now have the ability to […]
Commercial Loan Origination Software to Accelerate Loan Processes
Traditionally, securing a commercial loan was anything but a cakewalk. From assessing a range of parameters, including the business’s credit history and financial statements, to calculating collateral requirements before finally approving the loan, -the process is evidently time-consuming and lengthy. Additionally, multiple teams from various business units that are at times located in different cities […]