Thanks to technological advancements, loan management software has evolved immensely over the past decade. By 2032, AI and automation market in the banking industry is estimated to be worth USD 182 billion. In today’s digital age, lending institutions seek new and innovative ways to streamline their loan management processes. Artificial intelligence (AI), automation, and blockchain […]
Top 6 Pros and Cons of CBS in Banking
Financial transactions are much easier and more convenient today than in the 1970s. From anywhere, one can withdraw money from their bank accounts, open fixed deposits, or even trade on the stock market. Thanks to the CBS in banking industry, all of these faceless, timeless, and paperless transactions are now possible. Core banking software (CBS) […]
Top 5 Mobile Banking Trends to Look Out for in 2022
While 2020 was marked with uncertainties for all the industries, 2021 was geared towards businesses adjusting their strategies for a once-in-a-lifetime pandemic. Digitisation of user experience, for instance, was at the heart of the pandemic-era innovation. The pandemic-led lockdowns urged people to adopt digital ways of performing routine transactions. As a result, “95% of transactions […]
Four Loan Recovery Techniques Every Lender Must Know About!
Every lending operation is two-way traffic, which generally involves extending a loan and then recovering that loan. However, the ground reality is far from being two-process simple. Many financial institutions and lenders have to bear the brunt of delinquent loans despite keeping numerous checks in place. And if these loans are left unchecked, their bulk […]
How Collaborative Lending Can Extend Credit to the Underbanked
Governments globally have strived hard to usher in financial inclusion within their respective economies sustainably and responsibly. Yet, the undeniable truth is staring; most of the population has moved from being unbanked altogether to being underbanked. However, this large chunk of people can maintain bank accounts, perform transactions etc., on their digital devices, all thanks […]
How Can Embedded Finance Transform India’s Healthcare System?
Roughly 75%of the Indian population remains without any form of health insurance to date. On the other hand, those who have health insurance are practically in it to save taxes but are unaware of the terms and conditions of their policies. The majority of Indians still depend on their hard-earned savings or even borrowings for […]