The domain of finance has witnessed massive changes over the years and the rapid momentum of change has only remained constant. With significant regulatory changes, rise in digital payments and expansion in the volume of digital transactions, the future of the NBFC sector is ripe with several opportunities. In recent years, digital lending was at […]
Why Is A Loan Management Software At The Core Of A Future-Enabled NBFC?
India’s Non-Banking Financial Companies or NBFC sector continues to be at the forefront of driving credit outreach for the country’s underserved low-income, retail, and MSME market. The total asset size of all NBFCs in India is more than $370 billion, and they provided close to 20 per cent of all credit in India till March […]
Make Your Credit Evaluation Process Smarter With Finezza
Assessing the credit-worthiness of borrowers is a key component of lending success. Accuracy and time are of the essence when assessing counterparty risk. Yet the process of assimilating and analysing borrower information in order to assign a credit score when done manually is still prone to errors. It is also time-consuming, taking days or even […]
Can Account Aggregators Lead to a Customer-First Approach in Lending?
Loan, insurance, etc. require a customer to share their financial information (FI) with an organisation. Typically, they do so by printing the documents and submitting the hard copies. The method betrays the very sensitivity of the information and is time-intensive. Another technique is screen scraping. In screen scraping, the customer shares their user-id and passwords […]
Exploring Finezza’s Loan Management System: Features and Benefits
Amid reports of slowing credit growth owing to the coronavirus crisis, lenders are looking to streamline their operations and eliminate inefficiencies. From shutting down non-profitable branches to digitising workflows, there is a clear push to cut costs and increase customer engagement. Automated loan management systems with built-in analytics are attracting a lot of interest from […]
Implementing Digital Borrower Onboarding Process during COVID-19
At the onset of the pandemic, factors like the dependence on physical processes and the lack of adequate infrastructure collectively brought the lending to a standstill. The lending rate touched all-time lows in the country, and the limited applications that were processed were digital pre-approved loans to very select customers. Clearly, the only way to […]