Maintaining cash flows efficiently is an important aspect of business growth. Companies budget a certain amount of funds to help meet their production expenses. However, sometimes, companies may need a sudden influx of cash to help fund an order of a larger ticket size. This is where access to invoice financing can help them fulfill […]
Open Banking vs Platform Banking: Implications for Traditional Banks
Traditional banks often struggle to adapt due to a lack of innovation and personalised services, leaving them vulnerable to disruption. Open banking addresses these issues by securely enabling data sharing between banks and approved third parties via application programming interfaces (APIs). This collaborative method sharply contrasts with traditional banking’s siloed data model. India’s open banking […]
Some Ethical Considerations in AI-Driven Bank Statement Analysis
Artificial intelligence (AI) is set to become an integral part of the financial landscape, including balance sheet analysis for decision-making. AI-powered solutions can help lenders improve efficiency by reducing processing time and increasing productivity. While its integration offers numerous benefits, the use of AI in the financial domain also raises some ethical concerns like the […]
Open Banking in 2025: Emerging Trends and Future Forecasts
Open banking is a significant development that enables secure data sharing and collaboration between financial institutions, technology companies, and customers. It breaks down traditional barriers in finance by facilitating secure collaboration and data sharing between all stakeholders. As a result, this empowers customers, fuels competition, and drives innovation in financial services. As per estimates, the […]
Understanding the Mechanism Behind Automatic Classification of Bank Transactions
The revenue growth and profitability of a lending business depend on several factors. A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. Access to superior data plays an important role in this process. For instance, the ability […]
The Importance of Bank Statement Analysis Software in Fraud Detection
In terms of numbers, digital lending companies in India witnessed a compound annual growth rate of 39.5 % over the last 10 years. While this is an encouraging statistic, the digital lending industry is also witnessing more cases of fraud. According to a report by the Reserve Bank of India, in the first half of […]