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 […]
How Loan Management Software Can Help Reduce Loan Default Rates
Lending as an economic activity has come a long way from the days of pawnbrokers to credit cards and, most recently, digital loans. The advent of agile technologies, novel delivery platforms, innovative business models, and competitive players is accelerating the digital revolution in the lending sector. The digital evolution of lending has now reached the […]
Loan Against Invoices: Advantages and Disadvantages for Lenders
Small and medium-sized enterprises (SMEs) and business-to-business (B2B) firms have embraced the necessity of maintaining consistent cash flow or credit lines to clear dues and support their day-to-day operations. SMEs and B2B firms constantly look for funding options that suit their needs, ensuring consistent cash flow. As a result, loan against invoices or loan invoicing […]