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 […]
How Is Technology Vital for the Positive Growth of BNPL Providers
The Buy Now Pay Later (BNPL) option, also known as interest-free loans, became exceedingly popular during the Covid-19 pandemic. Reports suggest BNPL services are expected to cross USD 7000 million in 2022 in India; 22% of consumers bought goods using this option. BNPL services are popular among the young, tech-savvy population and also those who […]
Microfinance: What Lenders Should Consider While Approving a Microloan
Microfinance is generally associated with financial inclusion and poverty alleviation. It aims to help individuals and small businesses who have limited access to conventional banking services. In a broader sense, microfinancing refers to providing financial services like access to money transfers and savings accounts, credit facilities, and insurance to the economically weaker segments (EWS) of […]