The rapid advances in fintechs and their adoption have led regulatory bodies such as the Reserve Bank of India (RBI) to scrutinise the digital lending guidelines closely to limit compliance breaches. For example, In October 2024, four Non-Banking Financial Companies (NBFCs) were barred from sanctioning and disbursing loans due to regulatory violations. Also, earlier this […]
Revolutionising EMIs: How CLOU (Credit Line on UPI) is Redefining India’s Credit Landscape
The launch of UPI in 2016 has transformed the financial landscape in India. However, there remained a gap in how the credit was accessed. India’s credit access and repayment system is a lengthy and cumbersome process that feels like a trap more than a solution. The introduction of CLOU (Credit Line on UPI) is set […]
Rеsponsiblе Financе: ͏RBI͏’s Cal͏l f͏or Ethica͏l Practicеs in Both Lending and Bor͏row͏ing
With banks a͏nd fintech companies i͏ncrеasi͏ngly rе͏lying on artificial int͏еlligе͏nc͏е (AI) a͏nd machinе lеarning (M͏L͏) to as͏sеss crеditworthin͏еs͏s,͏ t͏hеrе’s a prеssing nееd to foc͏us on͏ rеspon͏siblе lending practicеs. However, thе͏ problеm is t͏hat whilе tеchno͏logy ͏advancеs͏ rapidly, ͏е͏thica͏l standar͏ds oftеn lag bеhind. This imbalance can lead to issues for both lеndеrs and borrowеrs. Let us […]
Leveraging Cloud Integration for Reporting and Analytics in Loan Management Software
If there is any secret to staying long-relevant in a highly competitive sector, adaptability and flexibility come at the top. The old traditional practices of manual data handling and driving insights have often hindered scalability in lending businesses. In this scenario, cloud Integration emerges as a powerful solution for addressing these shortfalls. Cloud computing can […]
Tackling NPA: How Advanced Lending Software Solutions Are Helping Indian Banks
The growth of Non-Performing Assets (NPAs) continues to be a top concern for digital lenders, today. According to reports, Indian banks continue to face challenges in recovering debt. India’s 39 Debt Recovery Tribunals (DRTs) and five Debt Recovery Appellate Tribunals (DRATs) struggle to cope with the volume of cases. Though 60,000 new cases are reported […]
Evaluating Loan Origination Software: 9 Critical Questions to Ask
When lenders choose a suitable loan origination software (LOS), it can significantly boost their operational efficiency, improve customer experience while mitigating security risks and providing a competitive edge. According to a 2024 study, loan origination systems that incorporate automated workflows, mobile features, and e-signing capabilities can reduce loan processing times by up to 30%. However, […]