Fintech Lending: Revolutionizing Borrowing and Lending

“The business of a bank is to lend money; which amounts, nowadays, to lending credit-John Buchanan Robinson”

Fintech lending is shaking up the financial landscape, offering innovative solutions for both borrowers and lenders.

Let’s delve into the exciting world of Fintech lending.

Lending is a big business in India, which both, directly and indirectly, touches upon all parts of the economy and people. Apart from the banking sector, several NBFC players contribute to a major percentage of the lending business. With millions of Indians holding loans worth crores of rupees, any technology that can make life easier for the lending sector to improve and mitigate the risks of defaults and frauds would be advantageous.

Lending (also known as “financing”) occurs when someone allows another person to borrow something. Money, property, or another asset is given by the lender to the borrower, with the expectation that the borrower will either return the asset or repay the lender. In other words, the lender gives a loan, which creates a debt that the borrower must settle.

Digitalization and the future of the lending system

1980’s: Online lending was born.