Micro, small, and medium enterprises (MSMEs) account for around 30% of the economy, making them one of the most important sectors in India. These businesses also play an important role in safeguarding the cultural heritage of different communities, driving innovation,...

Automation has positively impacted industries and has significantly contributed to the growth in the financial services domain. Lenders benefit from automating the entire lending process, including debt recovery. Replacing manual processes with automated collection procedures improves efficiency and helps lenders...

One of the top risks in lending is the inability of borrowers to repay loans on time and in full. Hence, debt recovery is one of the most important aspects of the lending life cycle. However, traditional debt recovery methods...

Credit appraisal is an integral componеnt of thе lеnding еcosystеm in India, еnabling financial institutions to assеss borrowеrs' crеditworthinеss in-dеpth. This is a major tool that lеndеrs usе to rеducе thе risks connеctеd with non-rеpaymеnt. This is also important because...

Non-banking financial Companies (NBFCs) offer diverse financial services, such as loans, credit facilities, investment options, insurance, and more. An integral part of the financial system, they cater to the needs of individuals and businesses that remain underserved or unserved traditionally....

When it comes to fighting financial crimes like money laundering and financing of terrorism, deciding when should a bank apply Customer Due Diligence (CDD) has become critical. Knowing your customer remains one of the primary bulwarks and one of the...

Recently, the RBI has pointed out cases where bank loan rates have been excessively charged, emphasising the need for reform. Addressing this pressing issue, the central bank has taken a stand against unfair lending practices through a recent directive to...

Loan applicants often submit numerous PDF bank statements. Lenders use web-based financial analysis software to quickly extract and analyse data from these documents, assessing cash flow and creditworthiness. PDFs may include identity documents, statements, invoices, and Goods & Service Tax...

Due to several factors, lenders are now more likely than ever to make poor risk assessment decisions. These include the speed at which lenders aim to approve loan applications, the growing potential for loan fraud, and increasing delinquent debt. Also,...

Predicting a borrower’s capacity to repay a loan is a complex process. Lenders must make a future forecast about a borrower’s creditworthiness based on limited data such as revenues. However, today, several factors can influence such outcomes. There’s always potential...