The concept of priority sector lending has its origins in 1972. This was when the Reserve Bank of India (RBI) first introduced the concept of opening up credit access to economically underserved consumers. This step was considered to be an important one in the nation-building journey as it enabled development. In June 2024, the RBI […]
Fintech combines finance and technology and represents the next phase of financial evolution, focusing on innovation. Fintech users, particularly in digital payments, are forecasted to exceed 3.5 billion in 2024. By 2028, the number will reach 4.81 billion. However, as the fintech acceptance and use grows, so does the cybersecurity threat. In 2023, almost 64% […]
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. NBFC software is a valuable tool that enables companies to stay technologically abreast and cater […]
Do you know we have used online banking for almost 20 years? Time has flown very quickly, but the financial sector has changed significantly throughout the years. The demographic shift among young people is influencing the developments in the fintech industry. Younger consumers’ preference for individualised and digitised financial services is transforming the banking landscape. […]
Accurately assessing the borrower’s creditworthiness is necessary for a lender’s long-term success and stability. It is an integral part of the lending process; accuracy and promptness are two key aspects to consider in the credit appraisal process. Credit appraisal or credit assessment involves a comprehensive evaluation of the applicant’s credit history, financial capacity, and ability […]
Non-banking finance Companies(NBFCs) have witnessed exponential growth globally and within the country. They are playing a crucial role in providing people and businesses across India with access to basic financial services. Emerging technology has also enabled the NBFC software to widen and deepen its reach; they have been instrumental in ensuring last-mile connectivity. So, whether it […]
The balance sheet is a crucial financial statement that reflects a company’s financial health at any given time. Balance sheet analysis examines a business’s balance sheet to evaluate its financial health and performance. It also involves analysing the composition and valuation of assets, the nature and maturity of liabilities, and the relationship between debt and […]
Data is increasingly vital in enabling businesses to streamline their workflows, drive revenues, and become profitable in the Internet economy. According to a McKinsey survey titled ‘The data-driven enterprise of 2025,’ adopting artificial intelligence (AI)- powered data practices is helping businesses grow revenues by at least 20% before interest and taxes. Access to high-quality data […]
Scaling a lending business presents a significant dilemma: higher loan volume increases potential profits but also the risk of default and fraud. Thorough risk assessment is essential, yet the sheer number of loans can make this process overwhelming. Lenders that embrace the benefits of technologies such as automation, Artificial Intelligence (AI), and Python can strengthen […]
The use of Artificial Intelligence (AI) comes with several opportunities to help businesses scale and excel in meeting their goals. AI is now being used in almost every field to build innovative products and services. AI-based predictive analysis is key in helping companies forecast the future. For instance, lenders can predict the potential creditworthiness of […]
