AI for Loan Companies – The Six Ways it can Benefit Your Business

The MSME segment is called, quite justifiably, the growth engine of India’s economy. With over 64 million organizations, it contributes to almost 30% of the GDP. A report published by TransUnion CIBIL and SIDBI in August 2023 predicts that the sector will continue to grow at a CAGR of 2.5%.

Surprisingly, more than half of the companies in the segment have never availed of a loan from established, regulated credit sources. This represents a huge opportunity that lending businesses can’t ignore. Organizations need to understand the unique challenges faced by MSMEs and adopt appropriate strategies leveraging the latest technology.

AI for Loan Companies – The Six Ways it can Benefit Your Business