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 […]
The Importance of Data Security in Loan Management System
In the era of information technology, data is the ‘new oil’. It is the essential commodity that drives businesses. The ability to gather, analyse, and use relevant data accurately makes or breaks an organisation in today’s age. Consequently, data security in cyberspace is a critical concern for firms operating in the digital space. Digital lending, […]
Can A Loan Management System Help Streamline Loan Processing and Approval?
As digitisation and adoption of fintech by consumers grow, lenders need to ensure their processes do not lag due to a lack of access to the latest technology. Generally, the lending process involves multiple steps, from customer onboarding to disbursement. Traditionally, each step is carried out manually, which is time-consuming and often prone to errors. […]
What Is Debt Factoring and Is It Right for Your Businesses?
Every small business owner begins by planning for success. However, in business, as in life, unforeseen events can throw a wrench into even the best-laid plans. Unexpected expenses and slow-paying customers can cause cash flow to fall to dangerously low levels. While larger companies may be able to turn to more traditional solutions, such as […]
Can a Virtual Credit Card Affect a Customer’s Credit Score?
The rise in online transactions has increased security threats to critical financial information. Virtual credit cards have become popular in recent years as a preventive method. These cards allow consumers to use their credit cards online without the risk of exposing their credit card information. Consumers, however, are also concerned about the impact virtual credit […]