Amid reports of slowing credit growth owing to the coronavirus crisis, lenders are looking to streamline their operations and eliminate inefficiencies. From shutting down non-profitable branches to digitising workflows, there is a clear push to cut costs and increase customer engagement. Automated loan management systems with built-in analytics are attracting a lot of interest from […]
Implementing Digital Borrower Onboarding Process during COVID-19
At the onset of the pandemic, factors like the dependence on physical processes and the lack of adequate infrastructure collectively brought the lending to a standstill. The lending rate touched all-time lows in the country, and the limited applications that were processed were digital pre-approved loans to very select customers. Clearly, the only way to […]
How to Build an Early Warning System for your Loan Portfolio?
Indian banks are struggling with the aftermath of bad loans and NPAs they have faced in the recent past. Following the series of deteriorating trends, the banking stability indicator worsened further due to the global economic uncertainty in 2020. Gross non-performing assets (NPAs) of Indian banks are all set to worsen to 11.3-11.6 per cent […]
How Digital Footprint Data is Shaping the Future of Credit Scoring?
With changes in the way transactions are processed and payments are made, the system for accessing risks or loan underwriting must also change. Lending companies are undoubtedly a susceptible target of fraudsters, especially in the times of digital banking. Where traditional credit scoring fails miserably during digital lending, digital footprints can help make up for […]
Decision Management System: A Safeguard Against Financial Risks
A sturdy decision management system can be a lender’s safeguard against financial risks that the credit evaluation process exposes them to. It harbours a promise of distinct competitive advantage to lenders with improved and flawless decision making. Fast-tracking the credit evaluation and risk management process at the lender’s end ensures increased financial security. It also […]
11 Features of the Perfect Loan Management Software
Legacy loan management systems make the lending management process unduly tough for lending officers thanks to the large scale manual processes involved. Given the gradual increase in demand for credit, lending companies find it impossible to cope with the outdated loan management solutions that follow a fragmented approach. Financial lending companies need a solution that […]