Loan underwriting is an eligibility process check performed by a lender , such as a bank or NBFC, to determine if a borrower/applicant meets the lender's eligibility criteria before approving the loan. It involves evaluating the borrower's credit information, reports, CIBIL scores, and financial documents such as income statements to assess their creditworthiness . A credit underwriter and a credit officer perform this process . The eligibility criteria vary across lenders,

In the lending industry, the playing field among NBFCs , Small Finance Banks (SFBs) , and traditional banks is more balanced than before, with all having equal access to growth opportunities via Artificial Intelligence (AI) driven lending solutions . Traditional banks have dominated the lending industry owing to their infrastructure, customer bases, and financial capital. However, AI has levelled the playing field, enabling NBFCs and SFBs to compete equally . Key Takeaways

Lending software requirements differ for Banks and NBFCs. Explore why it is so and how SimSol's 2 in 1 LOS + LMS is agile for both institutions.

Streamline your lending operations and stay ahead in the Indian financial sector with Loan Management System Software.

Scolend's Loan Origination System (LOS) for Banks and NBFCs streamlines loan processing. Discover LOS benefits for banks and NBFCs.

The lending life cycle is a comprehensive process covering loan origination, servicing, collection, and closure. Understanding each phase is crucial for lenders, borrowers, and financial institutions to ensure awareness of responsibilities and implications at each step. For lending professionals in fintech, grasping the structure and lifecycle of lending is essential, not only from a product standpoint but also with compliance, risk management, and customer experience. The bl

Co-lending is a relatively new concept in the world of finance that is gaining popularity among banks and NBFCs alike.