In the post-pandemic era, banks and other lending institutions are in a challenging position with higher volumes of non-performing assets, increasing default rates, and reduced consumer spending, leading to reduced profits. However, to kick-start the economy, the financial service providers must upscale the credit granting process with an automated loan processing system. This is, however, […]
How Effective Are Online Loan Management Systems in India?
TL;DR: Very effective. This is especially true in the aftermath of COVID-19. BCG’s Digital Lending report states that online lending in India will be worth upwards of $1 trillion by 2023. The estimate is evidence that fintech solutions like loan management systems are abundantly useful. It is the benefits they bring to lenders that make […]
Loan Management Systems in India: A Perspective Pre and Post Pandemic
COVID-19 has resulted in an unprecedented economic crisis, and there has been many disruptions and dramatic changes right from consumer spending to government operations. The lending sector in India is no exception to this rule, and it will also undergo a paradigm shift. There will be a change in the way lenders approach customers and […]
Top 4 Credit Bureaus in India that Every Lender Trusts
We often talk a lot about credit bureaus and know that they are responsible for generating our credit scores. The credit information provided by these bureaus is used by various providers and businesses who want to assess the financial health and background of an individual. Let’s take a closer look at the prime functions of […]
Digital Banking From the 2030 Perspective
The banking industry of 2030 will look completely different from what it is today. The inevitable and ongoing hype around Fintechs and Big-tech firms in banking and other financial services have been in the news for quite some time now. Even though the future seems uncertain, there’s no doubt that the 2030 landscape will be […]
Automate and Scale Your Lending Process with A Bank Statement Analyser
After the pandemic hit the world, loan defaults have been on a steeper rise than before. Direct consumers and SMEs are still struggling to repay loan dues, and the crisis is going away anytime soon. Consequently, a major challenge that all banks and financial institutions face today is tackling the hidden non-performing assets. While retail […]