Traditional credit scoring, led by CIBIL and other bureaus, has been the backbone of lending decisions for many decades. However, with the undeserved and new-to-credit segments’ increasing need (and demand) for loans and the microfinance delinquency rate moving up to 4.3% in 2024, lenders are realising that single scores only tell half the story about […]
In India’s rapidly digitising financial ecosystem, the risk of fraud has grown significantly. A PWC report pointed out that nearly 59% of Indian organisations had been defrauded over the previous 24 months. For financial institutions, early fraud identification is not merely a regulatory requirement but a business imperative. This is where forensic audits become critical. […]
Technology has taken over the financial ecosystem. Banks, non-banking financial companies (NBFCs), and other financial institutes are upgrading their existing infrastructure by deploying advanced technologies to combat suspicious financial activities, prevent crime, and ensure regulatory compliance. The Finance Ministry revealed that the Financial Intelligence Unit–India has identified an undisclosed income of around a whopping ₹11,000 […]
Imagine applying for a loan and receiving approval within minutes—all thanks to cutting-edge AI tools. No more waiting for days as your paperwork is shuffled between departments. This is the future of lending, powered by AI-powered bank statement software or loan assessors. These tools are helping lenders improve the quality of their decisions by providing […]
Robo-advisors are automated platforms that recommend personalised investment options and portfolios based on a theme or strategy specific to the user. These advisors leverage customer data and use algorithms to offer advice and are transforming the landscape of fintech companies in India. According to the latest data, assets under management in the robo-advisors market are […]
The Reserve Bank of India’s (RBI) Unified Lending Interface (ULI) is a groundbreaking technological innovation poised to transform the Indian lending sector. The digital platform aims to facilitate the loan application process by providing lenders with quick access to comprehensive financial data through standardised APIs. This way, ULI reduces paperwork, speeds up approvals, and improves […]
A thorough analysis of a borrower’s financial data is one of the most important aspects of the underwriting process. Inaccurate analysis can open up lenders to risks. These include delayed payment of EMIs (Equated Monthly Installments), and non-repayment of loans. Inaccurate analysis usually results from lenders leaving out certain metrics during the underwriting process. Failure […]
Proactive regulatory initiatives, evolving consumer behaviours, and the thriving funding environment have propelled the growth of the Indian fintech ecosystem. Digital lending is expected to account for around 5% of retail loans in India by the first half of 2028. As more and more customers, particularly, the millennial and Gen Z groups embrace the convenience […]
Loan fraud is one of the top financial risks faced by lenders today. As of May 2024, it was revealed that the number of bank frauds has increased four times over the last five years. These cases predominantly comprise digital fraud. Such incidents have caused major concerns across the industry. Some lenders have been triggered […]
At the forefront of the significant transformation in lending operations is the automated decisioning stage in loan processing—a technological leap that’s reshaping how banks and financial institutions evaluate and approve loan applications. Automated Decision-Making Systems, or ADMS leverage cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), and advanced analytics to streamline the loan […]
