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 […]
Why A Loan Management System Is Vital in Today’s Lending Sector
The domain of finance has witnessed massive changes over the years and the rapid momentum of change has only remained constant. With significant regulatory changes, rise in digital payments and expansion in the volume of digital transactions, the future of the NBFC sector is ripe with several opportunities. In recent years, digital lending was at […]
Peer to Peer Lending: What Makes P2P Platforms Unique?
Low-interest rates, quick turnaround times, and minimal documentation – these considerations are high on the wish list of practically anyone looking for a loan. With the government pushing lenders to boost the flow of credit in the economy, the odds of getting a quick loan have improved significantly for most people. However, this is not […]