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Antra Gupta December 10, 2019 0
Digital Transformation in Small Business lending
Lending money from Banks is perceived to be an agonizing experience starting from physical signatures, complex regulations, lengthy documentation and conscientious risk-profiling that banks are trying hard to come out of the deep-rooted mechanisms. Digitization is soon catching up in lending space and would be here to change the dynamics of how lending is done in the future.
Technology being the propeller of transformation is showing how it can affect the space when used well for the right customer at the right time. Technology not only drastically reduces the need for human resources in the documentation area but also allows for tapping unconventional sources of credibility, identification, and interest-classification.
Unveiling the potential of blockchain
Transforming a lending business is the need of the hour for the banks by providing superlative services to SME customers. With many alternative SME lenders galloping its customers, Banks started to transform the way they offer lending services to its customers. Traditional banking providers need to combine digital speed and convenience with human interactions that are both thoughtful and caring at crucial moments in the customer journey.
INVOIZO — A digital lending marketplace for Invoice discounting
At SimplyFI , we provide digital lending for any business that are in immediate need of working capital. We understand cashflows are the heartbeat of business growth. Invoice discounting improves the risk of bad debts against unpaid invoices. Any SME looking to unlock short term money without any collateral can fuel the growth through INVOIZO. It covers all aspects of a digital platform like risk management, process efficiency, customer centricity, and compliance. How SimplyFI through INVOIZO can help small business:
- Avoid bad debts
- Expand business growth
- Protect from Market uncertainties
- Data Privacy and Security