With changes in the way transactions are processed and payments are made, the system for accessing risks or loan underwriting must also change. Lending companies are undoubtedly a susceptible target of fraudsters, especially in the times of digital banking. Where traditional credit scoring fails miserably during digital lending, digital footprints can help make up for […]
How Machine Learning Can Transform the Face of Financial Services?
Machine learning is enthusiastically integrating into our lives and changing how we make decisions every day. Machine learning technologies leverage historical data and user behaviours to predict patterns and make automated decisions. The rapid pace at which the machine learning technology is accelerating is leading businesses to change the way they operate. Applications of Machine […]
Decision Management System: A Safeguard Against Financial Risks
A sturdy decision management system can be a lender’s safeguard against financial risks that the credit evaluation process exposes them to. It harbours a promise of distinct competitive advantage to lenders with improved and flawless decision making. Fast-tracking the credit evaluation and risk management process at the lender’s end ensures increased financial security. It also […]
Decoding Fintech Laws in India
The credit demand in India is projected for a steep rise to $1.41 Tn by 2022. Moreover, the growth rate in credit demand is estimated to be 3.73% between FY17 and FY22. Given the bright prospects of the future, numerous tech companies are making their way into the market. The result is multiple synergies between […]
6 Key Challenges of Fintech in India
A recent report suggests that the total credit demand in India is projected to be worth $1.41 Tn by FY 2022. Between FY17 and FY22, the estimated growth rate of credit demand is 3.73%. Widespread internet penetration in the Indian subcontinent, multiple players in the market, and governmental policies that focus on digitisation have led […]
11 Features of the Perfect Loan Management Software
Legacy loan management systems make the lending management process unduly tough for lending officers thanks to the large scale manual processes involved. Given the gradual increase in demand for credit, lending companies find it impossible to cope with the outdated loan management solutions that follow a fragmented approach. Financial lending companies need a solution that […]