The demand for rapid access to credit in business is continually growing. Businesses across all segments, but especially in the Micro, Small & Medium Enterprise (MSME) segment, seek access to funds to accelerate business growth. Experts predict that business loans to MSME borrowers will rise by 20% in the festive season, especially as consumer spending […]
Decoding the Right Loan Recovery Software: On-premise vs SaaS
Salesforce changed the course of the enterprise-grade loan recovery software industry when the company rolled out a software-as-a-solution (SaaS) CRM in 1999. Over the next few decades, cloud-based SaaS solutions garnered immense popularity, replacing on-premise solutions across various sectors. A Gartner study projected that global SaaS spending will likely reach $195 million by the end […]
How Automated Loan Processing System Is Helping Lenders Cut Costs
The lending industry has grown exponentially in the last few years. A mix of automated loan processing system, banks, and Non-Banking Financial Companies (NBFCs) are aggressively growing their loan verticals. On top of that, several payment platforms and eCommerce companies are also entering the highly competitive lending space. In the third quarter of 2023, digital […]
Managing Credit Risk Analysis and Scoring Using Lending Management Software
Credit risk analysis is a vital process that helps lenders assess the possibility of the borrower defaulting and the loss they may incur if the borrower fails to repay the contractual loan obligations. It often goes beyond credit analysis, primarily focusing on the borrower’s creditworthiness. In contrast, credit risk analysis assists a lender in achieving […]
Crucial Features and Capabilities of Micro Loan Management Software
Micro loans play a crucial role in promoting financial inclusion and aiding small businesses and individuals in urgent need of funds. However, as demand rises, managing them becomes complex. To address this challenge, financial institutions adopt Micro Loan Management Software, an advanced tech solution that accelerates the loan origination and lifecycle process, adds flexibility and […]
5 Best Practices: Integrating Loan Management Software
In the rapidly growing and highly competitive digital credit market, efficient loan management software (LMS) is the lender’s most trusted tool. A dependable LMS automates, simplifies, and optimises lending organisations’ loan origination and servicing procedures. To deliver productive end-to-end loan management capabilities, loan management software should seamlessly integrate with other systems, especially CRM and accounting […]