Innovation and automation across sectors and geographies are the hallmarks of the modern world. Lending is a trade as old as civilization. People have always had a system in place to ensure that their needs are met—right from the barter system to the much more sophisticated Lending-as-a-Service (LaaS). For several decades, lending has been a standardized, tedious, and time-consuming procedure. However, recent financial crises (global and country-specific) have led to LaaS enabling a simple and convenient exchange of funds. With innovative technologies and solutions, banks and FinTech enterprises can simplify and automate the lending process as well as sharply reduce downtime, costs, and inherent risks. Concurrently, LaaS has brought about an ecosystem where varied and disparate sets of customers have the required access to funds. |
