How beautifully a deviation has been handled in digital lending! The case: Approval Limit on loan amounts. Not all branches of a FI are eligible to approve higher amounts of loan.
Which is correct in digital lending? First Approach: 1) Collect a lot of data from the borrower 2) Analyse a complete 360 degree of a borrower 3) Finally, give him a Loan offer 4) Disburse Time taken to Disburse = 15 mins
Recently, I spoke to one of the loan officers at a Financial Institution (FI) and was shocked to hear this! Please read on to find out what the shock is!
Over the past decade, the financial services industry has undergone a massive technological revolution, and the results are as below –