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Even at an early adoption stage, fintech in India is paving the way for financial inclusion for the huge sector of unbanked and under banked population by weeding out challenges like high cost of traditional banking services. It is serving as a catalyst in the payments network, which is proving advantageous for small borrowers, SMEs, MSMEs, rural entrepreneurs, self-help groups and end users. Fintech has a critical role to play in breaking barriers of high-cost traditional banking. While the rural population has been unwilling to accept fintech due to lack of exposure, urban India is aggressively adopting it. However, in the last few years there have been Government initiatives like Aadhaar for eKYC, UPI for payments, e-wallets for transactions, sound-wave-based payments for rural consumers which have helped bridge a huge gap. The adoption of these innovations highlights the fact that India is building a cost-effective, large-value, fintech-driven ecosystem that is focused on urban as...

What is a Fintech Company? Gone are the days when people stood in long queues outside banks, post offices, cooperative societies for different financial services. With the turn of the century, a lot of progress has been made in terms of how we manage our finances. The word  Fintech  means Financial Technology. It covers an array of software that automates a lot of financial transactions such as lending, payments money transfer, etc. and allows businesses to utilize modern technologies for such services. It is also quite appealing to the millennial customer base. Read More - Strategies for Building Goal Winning Fintech Company

Digital lending  surrounds the cycle of applying for loans and instant approval online. As against popular credit-based Fintech products such as Convert payment to EMI or Buy now pay later products, the  digital lending process  incorporates Artificial Intelligence to analyse financial behaviour and standing of the customers and instantly underwrite digitally availed loans, thus reducing the credit time of various loan products. Not only does it eliminate geographical barriers but you can say goodbye to signing thousands of documents or bank visits.  Read Full Article - Digital Lending Software

  A  Loan Management Software  is capable of handling every lending needs in the digital space. It offers a bundled package of complete  loan management solutions  catering to commercial and consumer lending needs. It automates and manages the loan lifecycle from origination to servicing. Loan Management Software is geared to enhance operational productivity and deliver up-to-date information and technology. It does more than just keep information and organizes funds. It also helps to eliminate errors and ensures satisfaction. Loan management software is deemed essential in banks and other financial institutions.  Original Source -  https://bit.ly/3KD9wVh

A bank statement issued by any bank, typically,furnishes information regarding the banking history of any customer over a period of time, say, a month. The statement covers available and existing balance, deposits, withdrawals, interest, fees, penalties and more linked to the account. This document is considered important by any individual for personal as well as business purposes. It provides values on multiple levels, like : The existing balance in any account shows it’s business feasibility. An account of deposits made in the account is a positive sign of redundancy. Reflection of withdrawals minimise illegal transactions. The measure of interest in a statement shows the ROI(return on investment) on any fund. An account of fees and penalties shows room for improvement in any scope. Bank statements are a great tool for account holders to keep a check on their money. It helps track the finances, spending habits, overdraft fees, errors and frauds of any account holder. A...

Bank statement is a statement that is received from the bank after each month for the transaction one performs. Bank statement usually list down the available balance, deposits, withdrawals, interest, service charges, penalties, and others. Banking history of any month or any time period can be accessed by the customer. Banking history can either be received from the bank or through the online portal. Accessing the banking history allows a customer to look where the money has been invested or withdrawn or deposited and on what date. Currently, getting a loan sanctioned from the bank is a tedious task requiring a stringent document verification process. Verification process varies from bank to bank. The process starts with the application, which can either be filled online or by visiting any nearest branch. All necessary documents such as address proof, identity proof, income proof (bank statement or payslips received from the organization), and others must be attached alo...

Financial institutions like banks often need to examine the condition of a particular company for enabling financial transactions. In order to do so analysts have to go through statistical information with respect to industry parameters for ascertaining the position of the company. ScoreMe is the ideal tool prepared for aiding the task of analyzing business entities with respect to financial as well as non financial parameters.  Our Strength The aiding attributes of ScoreMe 1. Analyzing bank statements: The ScoreMe software comes with an inbuilt digital analyzer responsible for categorical formation of results based on bank statements. We ensure that all information related to credit, debit, and loan and check transactions are analyzed for generating the financial report of a particular company. The trends of transactions are also simultaneously analyzed for ensuring succinct examination of financial transactions. 2. Online acquisition and assimilation of informat...