What is Digital Loan?
Digital loans are technology-driven processes used by lenders to manage and administer loans. They automate every aspect of the procedure from application and document management, through electronic signatures, credit analysis, decision-making and pricing. They can increase productivity and offer quicker services, helping them abide by lending regulations while improving workflow efficiency and portfolio performance. It is a technology-driven process Digital lending is a technology-driven process that enables lenders to quickly assess, disburse and collect loans. Additionally, it provides borrowers with an improved customer experience and