Recently, the RBI’s June Financial Stability Report revealed that retail loans in the Indian banking sector experienced an impressive compounded annual growth rate (CAGR) of 24.8% between March 2021 and 2023. A pivotal reason for this growth is the ongoing transformation of the traditional and time-consuming manual loan approval process, driven by the adoption of automated […]
Optimising the Loan Origination Lifecycle: Key Steps and Automation Opportunities
The loan origination procedure is critical in the financial industry because it allows individuals and organisations to obtain the capital they require for a variety of purposes. However, this lifecycle is frequently time-consuming and resource-intensive and can result in delays and inefficiencies. With improvements in technology and automation, financial institutions now have the ability to […]
Commercial Loan Origination Software to Accelerate Loan Processes
Traditionally, securing a commercial loan was anything but a cakewalk. From assessing a range of parameters, including the business’s credit history and financial statements, to calculating collateral requirements before finally approving the loan, -the process is evidently time-consuming and lengthy. Additionally, multiple teams from various business units that are at times located in different cities […]
Loan Management System in India: Ensuring Data Security and Confidentiality
With the emergence of digital lending platforms and increasing reliance on technology for loan management, India’s financial environment has experienced a substantial transition recently. The digital lending market in the country has experienced significant development in recent years. According to a Boston Consulting Group (BCG) survey, the digital lending market is anticipated to reach an […]
How AI-enabled Loan Origination System Enhances Decision-making for Lenders
The lending industry in India is expected to play a major role in helping the country reach the $ 5 trillion economy milestone. Adequate and timely access to capital can help businesses grow faster, drive employment, and operate at the cusp of innovation. However, lenders face a number of challenges in their daily operations. For […]
5 Best Practices: Integrating Loan Management Software
In the rapidly growing and highly competitive digital credit market, efficient loan management software (LMS) is the lender’s most trusted tool. A dependable LMS automates, simplifies, and optimises lending organisations’ loan origination and servicing procedures. To deliver productive end-to-end loan management capabilities, loan management software should seamlessly integrate with other systems, especially CRM and accounting […]