Today, the lending landscape is promising for ambitious lenders. For instance, the estimated credit gap of INR 33 trillion in Micro, Small, and Medium Enterprises (MSMEs) presents an opportunity for lenders to service this sector more efficiently. However, existing systems cannot accurately underwrite MSME businesses due to their unique needs and lack of credit history. Adopting […]
Automated Loan Processing System: Speed Up Approvals with Straight-Through Processing
Manual loan processing, from origination to disbursement and collections, is time-consuming and requires significant effort. It is also inefficient and error-prone, resulting in lenders spending time and resources troubleshooting. Increasing loan application volumes and customer expectations are pushing lenders to seek efficient loan processing solutions to help them speed up their loan approvals. In this […]
Slash Loan Processing Time: Tips to Optimize Your Loan Origination Process Flow
The lending industry is considered a key driver of economic growth in India. On the business side, lenders are attempting to fill the credit gap, enabling businesses of all sizes and scales to reach their full potential. On the retail side, timely and affordable loans enable consumers to fulfil various aspirations, from purchasing a home […]
Digital and Advanced Loan Origination System: A Lender’s Lifeline in the Digital Era
The Indian financial ecosystem is witnessing rapid changes thanks to the increasing demand for technology integration into conventional financial operations. Traditionally, although most banks and other financial institutions claimed to offer top-notch customer service and experiences, the reality painted a different picture. Despite these reassuring claims, banks were gradually – for the wrong reasons. The […]
How to Generate and Use Insights From Bank Transaction Data Analysis
In consonance with the demand of a digitised market, a growing number of businesses are shifting toward a data-driven work culture. However, poor-quality data remains a pain point across industries. A 2023 survey by McKinsey indicates that 60% of technology executives considered poor data quality as the main roadblock to scaling their data solutions. The […]
Decoding the Importance of NBFC Loan Management Software for Lending Business
Non-Banking Financial Companies (NBFCs) are making a behind-the-scene yet significant impact on the Indian economy. Despite not having a traditional banking license, they promote financial inclusion, support economic development, enhance innovation, and deepen financial markets. A report by the Reserve Bank of India (RBI) reveals that the share of NBFCs in the total credit extended […]