As the lending industry becomes more competitive, transparency and accountability in decision-making are critical for a productive and long-term relationship between stakeholders. Customers want to make informed decisions and feel empowered when making a choice. In this scenario, transaction data analysis can strengthen the relationship between lenders and borrowers. It gives lenders critical insights and […]
Scaling Your Lending Business with Cloud-Based Lending Software: A Growth Strategy
In the last five years, the lending industry has grown increasingly competitive, with banks, lending platforms, payment apps, and non-banking financial companies (NBFCs) competing for a piece of the pie. Simultaneously, there’s great potential for data-driven, future-thinking lenders to accelerate growth by capitalising on under-tapped market opportunities. For instance, the Micro, Small, and Medium Enterprise […]
Microfinance Lending Gains Autonomy: RBI’s Move to Lift Pricing Caps
Recently, thе Rеsеrvе Bаnk of Indiа (RBI) tоok а grоundbrеаking stеp by lifting pricе cаps оn micrоfinаncе lending. This decision can exert аn significant impact on non-banking financial company-microfinance institutions (NBFC-MFIs). This stratеgic shift aims to harmonisе thе rеgulatory landscapе for all microfinancе lеndеrs, including banks, thеrеby crеating a morе lеvеl playing fiеld. Thе nеw […]
Strategies for Effective Collection Delinquency Management
The lending landscape is continually growing, with a mix of banks, neo-banks, Non-Banking Financial Companies (NBFCs), and payment apps offering a mix of consumer and business loans. However, collection delinquency management is emerging as a key challenge for lenders in an era when it is considerably easier to access a loan. However, traditional collection strategies, […]
Why Cloud-Based Loan Management Software is the Future
Today, potential business or individual borrowers seek an efficient user experience for the loan application process, loan approvals and disbursals, and EMI payments. Lenders looking to meet and exceed user expectations must work with technology that crafts a superior experience. In turn, they improve the potential to turn leads into customers and accelerate business growth. […]
How Digital Payments are Changing India’s Digital Lending Software Landscape
The launch of the Unified Payments Interface (UPI) network in India in 2016 revolutionised the payments domain. This system enabled instant and secure payments by anyone with a mobile phone and bank account. Since then, digital payments have become the go-to mode of payments across economic strata. The financial year 2022 to 2023 recorded digital […]