When extending credit, it is indeed crucial to ensure that loan repayments are collected promptly. However, imagine a scenario where a lending institution processes thousands of loans each month.

Running a successful business is no easy feat, and there are many factors that can hinder its success. In the lending industry, this is especially true, with a crowded market and ever-changing customer expectations.

The lending process may seem simple on the surface - a borrower requests a loan, undergoes verification, receives approval from the lender and then repay the principal amount along with interest.

In the current decade, technology has become an integral part of most businesses and companies. This has led to the emergence of various forms of technology, with one of them being vertical SaaS.

In recent years, digital payment adoption has become a global phenomenon, prompting countries and states to strive for efficiency, speed, and security.

The lending business has come a long way from paper-based processes to digital lending platforms. In the past, getting a loan was a cumbersome and time-consuming process.