It’s fair to mention that 2020 has been the year of disruptions in almost all industries. The pandemic that swept the world, totally altered the way businesses operate. Suddenly, remote and digital channels became primary for most businesses, especially during the times when there were strict restrictions in moving out freely. Some industries were heavily […]
How Account Aggregators are Becoming Consent Managers in India
The greatest benefit of the amalgamation of digital technologies is that data from various sources can be brought together in one place for better effectiveness. Even in the world of financial services, cutting-edge technologies that have been introduced have brought a shift in the consumer expectations of speed, safety, and security. This kind of varying […]
How Effective Is It to Automate Your Debt Collection?
No matter how big or small your business operations are, managing cash flow can be quite challenging. For instance, since the Great Recession in 2009 in the US the consumer debt had increased nearly by USD 2.3 trillion and now with the pandemic, it is even getting more difficult to recover debts. Business turnovers have […]
6 Ways Digitisation Can Help Curb Loan Defaults in 2021
Lending is the engine that powers the financial growth of all businesses and individuals all over the globe. As the global economies get interconnected and interdependent more every day, the need for funding has also increased enormously. The number of retail borrowers, SMEs, and business borrowers has surged multifold in the last decade. Though this […]
Can AI Help Banks to Simplify Student Loan Management?
Student loans are one of the most popular types of loans that banks offer. Traditionally, student loans were given to aspirants who plan to do their graduation or post-graduation to cover their expenses like tuition fees, books and supplies, and living costs. With tougher competition in the global job market in the last decade, the […]
Virtual vs In-Person: Are Loan Management Systems Reliable?
Lending is the lifeline that fuels the financial growth of all businesses and individuals. In such a scenario, having a robust lending system becomes imperative for the overall growth of the economy. As the entire global financial systems make a rapid shift towards digitisation, this has forced the lending industry to look beyond the traditional […]