The total value of loans in India increased by 11.5% in December ’24 compared to the same period in the previous year. Additionally, the loan growth rate in India remained steady at around 11.8% between 2012 and 2024, highlighting the increasing demand for credit within the Indian economy. Despite these positive trends, around 30-35% of […]
Evaluating an applicant’s creditworthiness is essential in the loan approval process. Analysing bank statements for loan approval offers lenders a comprehensive view of the applicant’s credit health. Lenders have traditionally relied on paper statements for credit health assessment. However, as lending institutions continue to digitise and automate their operations, many now offer the option of […]
The demand for credit among diverse audiences in India continues to rise. This has created opportunities for lenders to scale quickly and deliver more value to their customers. For instance, a recent survey indicated that in the Financial Year 2024, Gen Z borrowing amounted to between INR 3.5 and 4 lakh crore. Additionally, millennials had […]
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 […]
Access to timely credit is crucial for an individual’s or a business’s financial and social development. The Indian credit score companies offer services that help shape lending decisions, investment strategies, and overall economic stability. Self-monitoring of credit scores by Indians has risen by 73% in 2023, highlighting the growing awareness about the importance of credit […]
In the current economic climate, managing interest rate risk has become paramount for lending institutions. The Reserve Bank of India (RBI) recently reduced the repo rate by 25 basis points to 6.00% in April 2025, aiming to stimulate economic growth amid global uncertainties. This monetary easing, coupled with liquidity infusions totaling over ₹6.21 trillion, underscores […]
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 Returns (GSTR). However, a growing challenge for lenders is verifying whether the PDFs are authentic. […]
As the lending industry continues to grow, risk assessment and management will emerge as one of the top functions, enabling lenders to build sustainable, profitable businesses. Managing risk effectively can help companies prevent the growth of non-performing assets (NPAs), loan fraud, lending scams, and other negative consequences. Financial technology will play a key role in […]
Latest reports suggest that around 67% of Indians have applied for a personal loan at some point in their lives. Furthermore, India’s consumer borrowings have surged in recent years as more people fulfil their aspirations, including travel, buying a new car, building a house, and more. As a result, traditional and non-traditional lenders, including banks, […]
Advances in data analytics, big data, and artificial intelligence (AI) have opened up new avenues for banks and other financial institutions to improve their credit decision-making models. Additionally, the increasing appetite for digital transformation and sophisticated tech-driven services has translated into introducing innovative tools like bank analyser in the banking ecosystem. The Indian financial ecosystem […]
