Discover a wealth of insightful materials meticulously crafted to provide you with a comprehensive understanding of the latest trends.
Imagine applying for a loan to start your dream business. The lender is excited about your idea, but they need one crucial thing: proof that you can afford to repay the loan. That’s where income verification comes in – a crucial step in the credit appraisal system which determines your ability to handle the financial responsibility. […]
Many lenders often decide to entice borrowers with the promise of instant loans. However, lenders’ urgency to disburse more loans and borrowers’ eagerness to receive them can have adverse consequences, especially if the former does not perform due diligence. For example, lenders face the risk of engaging in loan fraud when dealing with dubious borrowers. […]
Digital transformation in India has paved the way for accelerated growth in the lending domain. According to reports, the lending market size was valued at $ 270 billion in 2022. This figure is projected to grow at a compound annual growth rate of 22% to over $ 720 billion in 2030. A mix of banks, […]
Lenders face several challenges concerning the credit risk management process. Some of these include inadequate data quality, lack of skilled underwriting personnel, lack of data security, lack of inclusive risk assessment strategies, and poor compliance monitoring frameworks. These multiple challenges converge into one major challenge – the inability to appraise potential borrowers’ creditworthiness accurately. In […]
As the world becomes increasingly interconnected and digitised, each transaction and interaction generates valuable data, which, if harnessed well, can offer invaluable insights and aid decision-making. One such revolutionary use of data is the leveraging of Goods and Service Tax (GST) data by lenders to make more objective lending decisions. GSTR analysis helps lenders employ […]
India is presently undergoing tech-led transformation, driving digitisation across key sectors such as manufacturing, healthcare, transport, agriculture, and finance. Among these, the financial technology (fintech companies) sector has emerged as a particularly dynamic force. With strong government backing and a surge in fintech innovation, India today hosts the third-largest fintech ecosystem globally. Valued at $31 […]
Conducting a financial audit is one of the most critical activities that enables businesses to understand whether they are on the path to profit. It helps them identify their financial liabilities, risks, and potential fraud. The audit also enables them to determine the status of compliance and taxes to be paid. Therefore, a financial audit […]
The financial sustainability and growth of an individual or a business are often intricately linked to their access to credit. Whether it is an education loan for an individual or a working capital loan for a company, all play a vital part in promoting the growth and well-being of the borrower. The importance of a […]
You do not need a microscope to observe how quickly things are changing in the Indian financial ecosystem. The rapid technology penetration, the country’s socioeconomic conditions, and government support have formed a formidable partnership to usher in a more digital and inclusive financial era. It is no secret that this seismic shift from dated and […]
Digital lending is considered to be one of the fastest-growing verticals in the Fintech space. In India, for instance, digital lending grew from a market value of $ 9 billion in 2012 to $ 350 billion by 2023. As the scale and speed of lending grows, so does the proportion of risk. Lenders are susceptible […]
