The economic multiplier has been set in action by Budget 2022, which focuses on quick, holistic, and inclusive economic growth. In addition, the Finance Minister has given the rural sector a strong push and raised budgetary allocations for the MSME sector—while fostering an environment favourable to the development of start-ups in the country. These projects […]
Bad loans have always been bad business for lenders, but financial institutions are increasingly tightening their purse with the pandemic exacerbating market volatility and geopolitical tensions. Although commercial loans are critical to bank asset portfolios, and the commercial lending market is set to grow at a CAGR of 13.1% over the next decade—these financial institutions […]
Today businesses of all sizes have digital technology. More than 2100 fintech companies in India alone have digitised every possible consumer interface. But unfortunately, this transformation has also made them vulnerable to cyber-attacks. As per a recent ImmuniWeb survey, 98 of the top 100 global fintech startups are prone to cyber-attacks. Hence, these companies are […]
Trying times have spun the way financial institutions operate. With the ease of payments, transfers, and money, millennials are used to instant and accessible financial services more than ever. As a result, traditional banks often seem unappealing to them. With parallel developments in the digital lending space, more individuals with no credit history have access […]
As an individual lender, a bank, non-bank financial company, or any other financial institution, you examine the prospective borrower’s bank statements to determine whether to lend them money. A bank statement is one of the most reliable sources for seeing all of your prospective borrower’s transactions and trends over time. However, during this situation, lenders […]
We are in 2022, and India’s economy is evolving amidst a global crisis. However, to achieve the $5 trillion economy dream by 2024-2025, the country certainly needs economic recalibrations. It wasn’t long ago when the pandemic caused an unprecedented downfall for the global economy, not to mention the MSME sector. Currently, the MSME sector is […]
New players are entering the realm of payments as customer demands change rapidly. Both corporations and consumers are increasingly transacting cross-border using online (mobile) payments and eCommerce respectively. The result: a significant change in how international remittance payments are conducted affecting all parties involved. So, all this puts substantial pressure on the payments solution industry […]
From the co-origination of loans in 2018 to the ‘co-lending model’ of 2020, the evolution of the framework laid out by the Reserve Bank of India (RBI) has spurred banks-NBFCs collabs. This has allowed for seemingly unusual tie-ups between banks and fintech companies and has raised concerns over the model’s sustainability and reliability. We’ll take […]
Banks have been speeding up loan approvals and disbursements to consumers to gain a larger share of the burgeoning retail market. Major banks, including the State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, etc., have slashed their lending turnaround times to as little as one day, and in some cases, as little as […]
Artificial Intelligence and Machine Learning are becoming the forefront of financial services across domains. One of the reasons behind this is an increase in lending efficiency and another being reduced manual error. However, implementing this technology can be challenging for many SMEs. In lending institutions, legacy systems and manual effort have been the norm. Breaking […]
