Are you leveraging “enough” technology to reduce loan defaults

By Neel Juriasingani Loan defaults pose a substantial challenge for lenders. It not only leads to considerable financial losses but also deteriorates the general stability of the lending industry. However, with the emergence of technologies and digital platforms, lenders today have access to effective tools that allow them to build strategies that help them drive more on-time payments, identify frauds early, recognize potential default risks, and digital workflows to manage such scenarios. Here are some of the potent ways in which technology can enable lenders to minimize loan defaults and...