Fintechs and banking sectors are quick to adapt to new technologies, owing to these advancements. Debt collection, which was once seen as a hard and time-consuming task involving repeated phone calls and mailing letters, has now completely transformed as companies optimize digital channels, improve the consumer experience, and tailor the customer journey with the use… Continue reading How Tech Is Changing Loan Collections?
Massive disruption brought on by digital technology is changing the way we work and conduct business in every industry. Companies who are well-positioned to capitalise on the trend toward remote working, digital payments, and online purchases are witnessing significant revenue growth, often at the expense of incumbents that are slower and less agile in their… Continue reading Role of AA In Financial Planning And Wealth Management
To argue that present debt collection techniques have an image problem is an understatement of their negative connotation. Threatening, harassing phone calls, coercion for money, or, in more serious circumstances, fraud, hounding, and social humiliation If a borrower fails on a loan, this is all part of the deal. A short glance at the Reserve… Continue reading Collections Efficiency: The Playbook to Combine the Best of AI and Human Intelligence
As many as 63% of customers never complete their loan applications. There are numerous causes for these high drop-off rates, but one, in particular, irritates digital lenders: convoluted journeys. Borrowers are frequently taken off guard and misled into believing that the digital loan journey will take place exclusively on their mobile phones. However, they are… Continue reading How Alternate Data & Account Aggregator Can Shake Up Credit Underwriting?
What is a fair amount to pay for a good customer experience? It can take a slew of failed efforts to find the sweet spot between customer delight and financial sustainability. However, an optimal CX journey economics model is the ever-elusive white whale that platforms fascinated with delighting are obsessed with. This conundrum is being… Continue reading How Embedded Finance Creates New Revenue Streams For B2B Companies?
Co-lending is now popular! Bank of Baroda established its own co-lending platform with a target loan book of 10,000 crores. Co-lending arrangements between banks and NBFCs are becoming more common. Third-party lenders appear to be eager to join the co-lending bandwagon as well. Some believe it has the ability to close India’s credit gap, which… Continue reading How FinTechs Can Strengthen The Co-lending Wedlock Between Banks And NBFCs ?
Your neighbourhood corner store, the stationery business across the street from your office, and your favourite local cafe. These tiny companies are an important aspect of every Indian’s life, as well as the smooth operation of the Indian economy. They are part of the country’s Micro, Small, and Medium Enterprise (MSME) sector, which accounts for… Continue reading How Embedded Finance Aligns Incentives for MSMEs, Platform Aggregators And Lenders?