Before the advent of computers and technology, lenders and banks stored customer and transaction data in physical ledgers and registers. The physical ledgers, along with other confidential documents related to customers, were stored in safe vaults and lockers, which were guarded by armed physical security forces. Since the advent of computers and subsequently, the internet, […]
How Digital Technology Can Modernise Wealth Management in 2021
Wealth Management is an advisory service provided by wealth management firms or consultants. In theory, the wealth manager is expected to be well aware of all aspects of financials, legal, asset management, estates, or property management. But practically, a single person cannot be an expert in all these fields to give solid advice in all […]
How Effective Is It to Automate Your Debt Collection?
No matter how big or small your business operations are, managing cash flow can be quite challenging. For instance, since the Great Recession in 2009 in the US the consumer debt had increased nearly by USD 2.3 trillion and now with the pandemic, it is even getting more difficult to recover debts. Business turnovers have […]
Can AI Help Banks to Simplify Student Loan Management?
Student loans are one of the most popular types of loans that banks offer. Traditionally, student loans were given to aspirants who plan to do their graduation or post-graduation to cover their expenses like tuition fees, books and supplies, and living costs. With tougher competition in the global job market in the last decade, the […]
Why A Loan Management System Is Vital in Today’s Lending Sector
The domain of finance has witnessed massive changes over the years and the rapid momentum of change has only remained constant. With significant regulatory changes, rise in digital payments and expansion in the volume of digital transactions, the future of the NBFC sector is ripe with several opportunities. In recent years, digital lending was at […]
How IoT Solutions Are Transforming the Fintech Ecosystem
Long before the advent of smart gadgets, voice assistants and wearables that have become commonplace today, we saw Hollywood movie characters using high-end cars equipped with sensors and voice assistants and superheroes receiving messages in their watch. Once a domain of fantasy, such devices are gaining momentum today, and a new class of tools is […]