As the times evolve, borrowers become more and more demanding about the kind of conveniences that a lending business offers. Not only do they hope to enjoy seamless and hassle-free access to loan products and services in accordance with their needs, but they also gain access to these services at their preferred place, time, and […]
Myths of Invoice Financing Busted: Does it Benefit a Lender?
The lack of credit is one of the biggest challenges facing India’s Micro Small and Medium Enterprises (MSME), which represent a lucrative market for banks and NBFCs. A study conducted by IFC Intellecap in June 2019 revealed that 80% of India’s 55.8 million MSMEs, in both the manufacturing and service sectors, were in dire need […]
7 Challenges faced by Microfinance Institutions
The majority of developing nations are struck with poverty as a leading roadblock to their progress. The main factor that influences the widespread poverty in regions like India is the massive disparity in income distribution. Being an agrarian economy primarily, more than half of the Indian population sustains on agriculture and allied activities. Both the […]
How to Ease the Lending Process through Bank Statement Analysis?
An applicant’s bank statement gives a periodic view of all the transactions undertaken by them including deposits, withdrawals, transfers, debit card payments, interest earned, bank service fees, as well as the other instalments they are paying. Lenders analyze the frequency of the transaction to estimate an applicant’s ability to repay the loan in time. Analyzing […]
Understanding Core Banking Solution (CBS)
A back-end system that efficiently processes banking transactions across the various branches of a bank, core banking is the future of banking as well as the lending industry. Core banking allows inter-connectivity between branches of the same bank and facilitates management of deposit, loan, and credit processing. With CBS, customers can operate their accounts as […]
Lending Lifecycle Management Trends for 2020
NBFCs and MFIs are increasingly strategizing ways to grow and compete in the largely untapped arena of commercial lending, in a rapidly evolving market. There is a massive opportunity for lenders to leverage on the opportunity to serve their business customers better, contribute to their bottom lines, and garner higher returns for their benefit in […]