How advances in data science are securing digital lending

Posted by KMS Solutions on Apr 18, 2022 3:37:50 AM

While Vietnam's digitalisation has made human digital footprints available from anywhere, the COVID-19 pandemic has hastened its adoption throughout businesses that were still in their infancy in the nation. With countrywide lockdown and social distancing rules, businesses are increasingly relying on technology innovation to disrupt conventional industries, and the financial services industry is no different.

The rapid adoption of fintech services has wreaked havoc on many parts of the traditional financial services business, with digital lending set to be a major disruptor. The rise of online lending platforms and fintech businesses is revolutionizing loan distribution procedures by providing rapid loan options. Furthermore, this has resulted in a greater availability of data in various formats, making consumer insights easier to analyze. Moving to digital channels, on the other hand, introduces a slew of security threats, including fraud, identity theft, data breaches, erroneous risk assessment, and, most importantly, loan defaults.

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Topics: Digital Banking, Digital Lending

10 Steps to Build a Digital Loan Origination Process

Posted by KMS Solutions on Apr 4, 2022 2:04:04 AM

Loan origination is all the actions your company takes before disbursing the loan, and it's an essential part of your digital lending platform. For many banks, it is at this point where they invest the most time and effort is expended. 

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Topics: Digital Banking, Digital Lending

7 Requirements your Digital Lending Platform Must Have

Posted by KMS Solutions on Mar 28, 2022 9:50:31 PM

There is an urgent need for banks to digitize their services. Lending, which has always been banks’ essential source of profit, is now the frontier in this shift to digital banking. Against this backdrop, more and more banks are thinking about adopting a digital lending platform to embrace this trend. However, choosing a suitable one among numerous platforms out there can be hard.

In this guide, you will find out about the seven top priorities - the key capabilities you need to consider for a successful implementation of the digital lending platform, and how to achieve fast time to market while ensuring regulatory compliance controls and risk management at your standards.

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Topics: Digital Banking, Digital Lending

Most Popular Digital Lending Business Models

Posted by KMS Solutions on Mar 6, 2022 11:07:28 PM

Recently, Digital Lending has become a global financial phenomenon. It is predicted that the total market size of digital lending platforms may reach 12.1 billion from 5.1 billion dollars in the upcoming years. 

The growing customer demands and expectations have bred new markets for new forms of borrowing money. More banks are looking to adopt Digital Lending to improve efficiencies, reduce costs, and acquire more customers.

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Topics: Digital Banking, Digital Lending

Benefits of Using Digital Lending Platform

Posted by KMS Solutions on Feb 27, 2022 8:52:44 PM

A digital lending platform covers the entire loan lifecycle from application to disbursement into customers’ bank accounts. By digitizing and automating the lending process, the platform is transforming traditional banks into digital lenders.

In this article, let’s explore the benefits that a digital lending platform can bring to the table: what’s in it for both banks and their customers, and how digital lending platforms are disrupting the industry.

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Topics: Digital Banking, Digital Lending

Digital Lending vs. Traditional Lending: Key Differences

Posted by KMS Solutions on Feb 24, 2022 2:35:30 PM

Today, the use of mobile devices has become more widespread than ever, and the dramatic development of digital technology has forever changed our daily lifestyles. People now prefer purchasing and selling something online because of its convenience. However, due to a huge number of stringent requirements from banks, small businesses and individuals are struggling to be qualified for loans. 

To support people’s needs and fulfill the funding gap, modern banks have launched many powerful tools that are greatly valuable to their customers, including Digital Lending. So, what are the purposes of Digital Lending that can be used for financial inclusion? 

In this post, we’ll talk about the benefits of Digital Lending and explain 7 outstanding advantages when compared with the old fashion Traditional Lending.

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Topics: Digital Banking, Digital Lending

Three strategies for incumbent banks to jump aboard Digital Lending

Posted by KMS Solutions on Oct 20, 2021 1:13:43 AM

Building a new lending product from scratch, buying a pre-built digital lending platform, or partnering with fintech startups are the three most viable models for traditional banks to jump into the Digital Lending market, according to Digital Banking leaders from KMS Solutions, Mambu, and Kuliza.

This article is also featured on VIR (English) and thoibaonganhang (Vietnamese) 

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Topics: Digital Banking, Digital Lending

Top 5 Digital Lending Platforms for Vietnam's Banks

Posted by KMS Solutions on Oct 19, 2021 9:44:40 PM

Within the next five years, digital lending is expected to be valued at $1 billion in consumer lending alone. This growing trend can be attributed to the shift towards digital banking, the pressure of losing wallet share to fintech counterparts, and the lingering effects of the epidemic. As a result, the banking industry has been gradually adopting digital lending to adapt.

One strategy for banks to “digitize” their lending process is by using pre-built platforms from a third party. This tactic offers the best of both worlds. On the one hand, banks can save time developing new products because most commercial solutions are "plug-and-play", meaning they are ready for use immediately after deployment. Second, having platform-based nature, they often come with a configurable architecture and integration capabilities, on top of which banks can build new lending products.

However, with so many applications in the market, choosing one can be hard. The following article will recommend the 5 most popular digital lending solutions and the technology behind them for banks to consider.

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Topics: Digital Banking, Digital Lending

An Ultimate Guide to Digital Lending

Posted by KMS Solutions on Oct 19, 2021 7:00:29 PM

Digital lending is transforming the financial service sector. Innovations in this niche have allowed financial service providers (FSPs)—be it a digital-native fintech company or an incumbent bank—to provide effortless loan products that today's market requires. Customers' preferences today are dictated by the experience they have with mobile apps, fintech, and social media. Digital lending is a way for FSPs to satisfy those expectations.

This article explores common definitions and concerns related to digital lending, and offers insights into the digital lending framework that FSPs can use to enter into this market.

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Topics: Digital Banking, Digital Lending

The Lend.In Platform Empowers Banks to Embrace Digital Lending

Posted by KMS Solutions on Oct 15, 2021 6:28:14 PM

Digital Lending - The LendIn Platform

Ho Chi Minh City, October 15th, KMS Solutions announced the introduction of Lend.In, a next-gen Digital Lending platform, to the Vietnamese market after signing a partnership agreement with Kuliza. This platform is stated to be able to help banks digitize the entire lending process.

This article is also featured in Vietnamese by CafeF and thoibaonganhang.

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Topics: Press Release, Digital Lending

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