A young population contributing to the e-commerce boom, the rise in digital adoption, and consistent growth in GDP over the past few years, have reinforced Indonesia’s position as a prominent economy in Southeast Asia. Despite many economies facing economic slowdown and yet to recover from the after effects of the pandemic, the Indonesian economy has continued to grow steadily. A…
OpenAI’s launch of ChatGPT (Generative Pre-trained Transformer), has catalyzed the transition of AI from the peripheries to the very forefront of technological development. A tool that exploits Artificial Intelligence, Machine Learning and Natural Language Processing models to create algorithms that create human-like responses, ChatGPT is regarded by tech experts as a positive step in the direction of the democratization of…
With shifts in technology, changes in regulatory requirements, and diverse borrower demographics, the field debt collections needs innovation and technology intervention. Field debt collections are beset by multiple challenges that include disconnected teams, inefficient borrower communications, paper-based processes, ambiguous performance metrics and management of third-party agencies. Inconsistency in capturing location of field agents adds another layer of complexity. When the…
In a nation like India, where availing credit is a major contributor in addressing the populace’s financial requirements, requisite processes need to be regulated and monitored to ensure compliance and hassle-free resolutions. With a greater need for credit and lower interest rates, demand for retail loans is sure to show upward trends in the near future. Therefore, before asking for…
The rapid developments in financial technology over the past few years have changed the way financial services are consumed across different economies and altered the perception of banking and finance. With its transformative agenda, technology has enhanced effectiveness, fast-tracked adoption, and simplified various banking practices. The combination of business and financial technology has also given rise to new innovative models.…