The span of time that traditional financial institutions incur to estimate loan eligibility and evaluate loan applications can be pretty long. As evaluating loan eligibility involves considering factors like prevalent interest rate; tentative loan tenure; nature of employment of the applicant; gross monthly salary and market value of the securities, manually go through heaps of […]
GST: A New Data Source For Fintechs To Assess Loan Applications
When the government first introduced the Goods and Services Tax (GST) in 2017 to the Indian economy, there were several concerns about crossing over to this new tax regime. As it happens with every change, the new tax regime was not readily accepted by all. Nevertheless, it helped to re-organise the small and medium enterprises […]
Why Using A Credit Score From A Single Credit Bureau Isn’t Good Enough
When it comes to deciding the creditworthiness of a person applying for a loan, the credit score plays a very important role. Whether it’s for business, or major financial investments such as buying a house, or a car, most lending institutions consider the credit score as an eligibility criterion. Not just that – telecom/mobile companies […]
5 Ways In Which AI Is Revolutionising The Lending Business In India
Interactive web-based connections have almost entirely taken over face-to-face communication. The impact of AI is all-pervasive in our day-to-day lives. All industries have now incorporated it into their operations, and lending businesses are no exception. The financial deregulation led to a sea of changes in the banking and financial services industry with the mushrooming of […]
How Finezza Helped Gromor Improve Their Loan Management Process
Gromor Finance is a leading fintech company set up with a vision to make small business owners sustain financially. For their lending management solution, they relied on Finezza. Here’s how Gromor benefited by automating their disparate processes and improve its loan processing efficiency, using Finezza. It also enabled improved customer experience. Introduction Gromor Finance is […]
Finezza: The Unique Lending Lifecycle Management Tool Your Business Needs!
For small business owners, business loans are opportunities – either to grow the business, to upgrade their equipment/technology, to hire new people, or to simply meet their working capital needs. When they approach a lender, there are a few things they expect from the lender: An easy loan application process. Security of the submitted documents. […]