They say technology is a great leveler and there can’t be a better example than FinTech because banking services what was once a domain of banking and financial institutions has seen much start-up players in this space competing with the large and established banking corporations. But this isn’t to say the traditional banking institutions are falling behind in the digital race,
because they certainly in the race. But banks because of their legacy systems and regulatory frameworks are slow to change and can’t leverage emerging technologies as quickly as FinTech companies.
Here are some of the ways technology brings revolution in the financial services industry:Loan is not something bad. But, if a loan becomes a bad debt, it is really painful and tension-yielding.
To be under bad debt is a condition when you are unable to pay back the loan. What are the causes of being under bad debt? One of the causes of the loan becoming bad debt is that you do not pay back the installments of the loan on regular basis.
