Credit bureaus and credit rating agencies are easily confused, especially because credit bureaus are also referred to as “credit reporting agencies.” Credit bureaus, such as Equifax, Trans Union CIBIL, and Experian are agencies that give information about an individual’s creditworthiness. They provide credit reports and credit ratings to creditors, such as banks, to assist them […]
How Finezza Helped Gromor & Udhyam Alter Bengaluru’s Iron-walas
The pandemic has proved how technology can reverse every adversity into an opportunity. The massive digitisation of Indian businesses has led to non-conservative finance models like co-lending to gain a foothold. While co-lending is still nascent, it is gaining popularity among stakeholders, .i.e. banks, NBFCs, and HFCs, for its high risk and reward. Co-lending as […]
Challenges and Opportunities Facing India’s Digital Microfinance
The Internet revolution and increased mobile penetration across rural markets have fuelled the emergence of digital technologies in India’s microfinance sector over the last decade. MFIs have now begun to adapt to new technology trends for faster loan origination, efficient customer service and delivering flexible lending requirements using alternate channels. The proliferation of low-cost mobile […]
Critical Things to Note for a Successful Debt Recovery Strategy
One of the business tactics used by banks to earn interest is to offer debt in the form of loans. However, keeping a low non-performing loan rate is a challenging endeavour. It takes time and resources to complete the collection procedure for each possible defaulter. The debt collection became even more challenging because debtors and […]
Four Loan Recovery Techniques Every Lender Must Know About!
Every lending operation is two-way traffic, which generally involves extending a loan and then recovering that loan. However, the ground reality is far from being two-process simple. Many financial institutions and lenders have to bear the brunt of delinquent loans despite keeping numerous checks in place. And if these loans are left unchecked, their bulk […]
6 Reasons Why You Must Choose a Trusted LOS Partner
Online loan origination process has become more nuanced vis-à-vis the competitiveness and regulations in recent times. Today, businesses can avail end-to-end lending solutions by choosing a reliable loan origination software for complete loan cycles. According to Statista, the digital lending market in India is expected to reach 350 billion dollars by 2023. A trusted loan […]