The financial world is undergoing a rapid transformation with an ever-increasing number of banks and financial institutions turning to technology when at a time, the corporate lending scenario looks abysmal. Banking related processes have now become speedier and paperless. Most of the banks have propelled their functioning with the launch of instant loans thereby drastically .
Technological innovation is rapidly changing the countenance of every single industry and the lending segment is not an exception as well. Although, till years back, lending exclusively happened to be the prerogative of banks and credit companies, nowadays, loans are getting extended to consumers and entrepreneurs also by innumerable Fintech companies whose novel practices are .
In this day and age, the process of securing a personal loan has become much speedier and simpler, thanks to the influx of various technology-induced lending practices. Presently over 1500 Fintech companies are functioning in India, which has radicalized the personal loan market, scrubbing off the shine and shimmer from the customary banks and several .
When the entire concept of lending and borrowing started to become legal and mainstream, it only involved the traditional banking methodologies with fiat currency. As technology has evolved, there are now multiple avenues to apply for any kind of loan from various types of financial institutions and lending companies. Institutions like NBFCs, FinTech companies, and .
A paperless loan is a digital personal loan. It is a type of digital transaction in which the lender gives the personal loan to the borrower after checking certain documents and eligibility criteria. Everything from deciding the loan amount to EMIs is carried out online, and the approval process of this online paperless loan does .
Digitization is transforming every aspect of financial transactions. Going cashless has taken priority, ever since India’s latest demonetization phase. But with cutting-edge innovations and strategic use of technology, now paperless agreements are on the rise. By definition, paperless lending is the exchange of funds without the need to provide physical documents. Especially within the .