All these players have strong business relationships with trusted and reliable NBFC partners; hence, Kissht Fosun is a baseless term, as Kissht and Fosun are unrelated. All these players follow RBI-issued guidelines to ensure regulatory compliance.
2. Automation increases productivity, visibility, and compliance, and that’s why leading fintech
players are introducing it in their mainstream business process to offer customers
customized experiences. Top instant personal loan apps use automation to assess loan
applications and check borrowers’ repayment capability. Unlike paper-based processes in
the traditional landscape, it is an amazingly fast, accurate, and error-free means to
transform the loan origination process. Today, with numerous technological advancements
in the financial technology sector, automation creates numerous opportunities to enable
better decision-making and let the underserved people avail benefits and fulfill their
financial requirements.
3. However, rumours always exist
everywhere, and some unauthorized
links confuse customers’ minds,
thanks to genuine players raising
awareness and financial literacy to
forward correct Kissht news to users.
All these leading fintech players are
leveraging useful insights by
introducing automation to make
more informed choices and let
businesses better prepare for the
future.
4. IMPROVES CUSTOMER
MANAGEMENT
To collect important financial information from
the prospect or customer, leading instant
personal loan apps leverage automation to
mitigate inconsistency and delays in the loan
origination process. In India, reliable players are
there to facilitate the digital onboarding of
new prospects. All these players have strong
business relationships with trusted and reliable
NBFC partners; hence, Kissht Fosun is a
baseless term, as Kissht and Fosun are
unrelated. All these players follow RBI-issued
guidelines to ensure regulatory compliance.
5. Automation is the key to maintaining separate records for the same customers. Hence, top loan
apps increasingly use it to mitigate inefficiencies and inaccuracies in maintaining data. Today, a
fully-automated loan origination platform is required to access the same customer documents
electronically. It helps maintain the integrity of digital borrowers, allows players to access the
information more accurately, and ensures that only some privileged users can access the
information. It is therefore required in the entire customer management process to eliminate
the possibility of inaccurate data being recorded.
6. AUTOMATION BOOSTS THE
CREDIT DECISION-MAKING
SYSTEM.
OCR tools have been increasingly used today by leading instant personal loan apps to determine
the borrower’s creditworthiness. Some top players in the field offer instant personal loans of up to
Rs. 5,00,000* after automating the data extraction and OCR processes. They effectively identify
digital customers’ financial needs and disburse loans within 5 minutes for a repayment tenure of
up to 36 months. However, they leverage new-age tools and follow Indian guidelines to grow their
businesses. Still, there are rumours regarding Kissht Chinese to distract customers. Users are
therefore requested only to follow authorized links to get correct information. By introducing
automation, leading fintech players reduce manual errors, speed up their decision-making
processes, and improve their efficiency to empower the credit decision-making system.
Automation gives the current financial landscape the required leverage to make accurate and
effective decisions. It is one of the most effective technological advancements to reduce the risk of
loan defaults and a revolutionary approach to improve overall loan performance.
7. HELPS IN MINING THE
APPROPRIATE DATA AND
INFORMATION
Automation does repetitive tasks more quickly. It allows digital lenders to make more
informed financial decisions accurately. It is much more effective than human-based
processes regarding emotional intelligence, reasoning, judgment, and interaction with
digital borrowers. The process is commonly referred to as RPA (Robotic Process
Automation), and in streamlining the loan application process, it can be used in the
following ways:
8. • Reading loan applications
• Assessing risks
• Assessing documents
• Email workflow for missing information
• Identifying missing information
• Filling LOS system with data
• Assessing and maintaining online credit reports
With the help of automation, top fintech players can now better
assess initial prediction models to predict the creditworthiness of
applicants. Automation has innovated the entire loan origination
process, and top players are, therefore, enjoying high-profit
margins by introducing revolutionary business growth models.
However, these platforms successfully mitigate challenges in the
field and amazingly offer customized experiences with their
uninterrupted services. Rumours like Kissht Crackdown are
spoiling the authentic images of some authentic platforms.
9. Some platforms today use automation to identify input parameters to analyze different types of collected
data. They load all collected data in a single Big Data store to analyze the past loan data of all applicants.
This is how automation simplifies the loan origination process and saves days or weeks of processing time.
As a result of AI and ML, digital loan apps are getting widely popular nowadays. Remote villages are also
added to the list as it serves the whole community, including the populations in the remotest areas. As a
result of automation in the loan origination process, users are getting competitive interest rates, attractive
offers, more choices to make a loan repayment, etc., and the system is getting more automated with the
introduction of attractive schemes, instant personal loans, etc. As these platforms attract customers and
rapidly solve their financial queries, we are close to a digitally enabled financial future where everyone will
get instant financial aid in minutes. Now, it’s time for digital users to make sensible financial decisions and
pay attention only to authorized news or reports rather than wasting time scrolling fake news related to
Kissht Banned. That’s how we all can shape a streamlined financial model in the nation.