Today, a growing number of consumers require funds for personal, or business reasons. The funds may be used for a home renovation, expenses after a job lay-off, or to fund business operations. The value of funds can vary. Typically, such borrowers apply for a line of credit, which allows them to get access to funds […]
How Does Micro Loan Management Software Improve Lenders Profitability?
According to experts, microfinancing has been one of the most instrumental factors in facilitating financial inclusion in India. The Bharat Microfinance Report by Sa-dhan highlights that 98% of microfinance institution (MFI) borrowers are women, demonstrating the significant role MFIs play in empowering women entrepreneurs through micro-credits. This impact is further underscored by data from the […]
Ways Loan Management Software Accelerate Transparent Lending
Ever wonder how India’s banking systems got so high-tech? From the first ATMs in the 2000s to today’s cutting-edge innovations, India’s financial landscape is transforming at breakneck speed. Government initiatives and fintech breakthroughs are fueling this revolution, making banking more efficient, inclusive, and transparent for everyone. Lending was one of the major areas that was […]
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. […]
Loan Origination System vs. Loan Management System: Understanding the Differences
Loan applicants today expect a quick, convenient financing process from the first step to funds arriving in their account. Lenders now rely on ever-evolving technology to meet these expectations. For example, they leverage reliable systems to track each step of the process through origination and its payment lifecycle. A sound understanding of loan origination and […]
Essential Guide to Loan Management System: Efficiency, Scalability, Profitability
Today, the lending landscape is promising for ambitious lenders. For instance, the estimated credit gap of INR 33 trillion in Micro, Small, and Medium Enterprises (MSMEs) presents an opportunity for lenders to service this sector more efficiently. However, existing systems cannot accurately underwrite MSME businesses due to their unique needs and lack of credit history. Adopting […]