Very often, banks shy away from integrating advanced products like core banking solutions into their systems. Even if they don’t, most bankers associate the integration of modern technologies with escalated costs and enhanced risks. Core banking solutions are the core frameworks that are used to lodge all the withdrawals and deposits that the bank makes. […]
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 […]
How Risk Analytics Influence Customer Experience?
Recent developments in computing power and advanced analytics, along with the rise of big data, enables businesses to be better at what they do and how they do it. More and more companies are leveraging the power of data to gain a comprehensive view of their businesses and make profitable decisions. When it comes to […]