The smartphone has transformed banking practices, benefiting consumers and financial institutions (FIs) alike. What was once a complex, time-consuming process of securing a loan has now been reduced to a few taps on a smartphone screen. Therefore, many lenders are increasingly adopting a mobile-first strategy to stay relevant and broaden their customer base. The numbers […]
4 Ways Co-lending Can Strengthen the Indian MSME System
Did you know there are around 64 million micro, small, and medium enterprises (MSMEs) in India? Additionally, MSMEs contribute around 30% of the total GDP and account for 31% of the country’s workforce, highlighting their indispensable role in India’s economic growth in recent years. Yet, MSME credit penetration in India is only 14%, which begs […]
What is the India Fintech Stack: A Guide to Seamless Digital Lending for NBFCs
Did you know that Non-Banking Financial Companies (NBFCs) can leverage data and digitisation to facilitate lending? It can lead to reduced costs, faster approvals, and increased financial inclusion. According to BCG, this might enable a 15X growth in this market, reaching INR 7 lakh crore in annual disbursements. But what drives this growth? It is […]
The Digital Lending Revolution: Startups vs. Big Banks
Despite their best efforts, established banks often suffer from manual approaches and outdated processes. Vis-a-vis modern customer expectations of a quick approval time and flexible digital lending, these barriers usually force borrowers to seek alternate solutions. Fintech startups and lending businesses aim to close this exact gap. But the question is, how well-stacked are the […]
Exploring the Potential of Decentralised Finance (DeFi) in Loan Management
Decentralised Finance (DeFi) is an umbrella term for a financial system built on blockchain technology. It aims to provide an open, permissionless, and decentralised alternative to traditional financial setups. Compared to the conventional loan management process, DeFi lending does away with intermediaries, connecting the lender and the borrower directly. The global decentralised finance market was […]
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 […]