Gregory R Smith
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Category: Finance

Here’s Why Fintech Startups Need Smart Analytics

It is not that only giant corporates need big data.  Even Fintech startups need smart analytics.  Read on to know why:

Understanding customer behavior is important even for start-ups.  The customer is the bread butter of any organization.  Right from an early stage, customer behavior analysis is a critical task.  Hence smart Analytics is needed even for Fintech startups.

This will help to counter the stiff competition easily.

Decision making based on data analysis is very vital for startups.  Any wrong decisions will burn them to ashes.  Hence smart analytics help in extensive data analysis and correct decision making.

Startups cannot afford to lose opportunities.  Hence grabbing opportunities is very important.  Data highlights opportunities and threats.  Hence fintech startups need smart Analytics.

Every arm of finance like banking, insurance, leasing etc. has started using the latest technologies.  one of the top KYC through video call is becoming very common.  Hence providing products which are compatible in analytics will be an added advantage.  In case if the startups offer solutions which are not compatible with the technology already used by the financial institutions, then the solutions will not be sought by the financial institutions.  It is wise to use smart analytics as a tool to provide superior fintech products will help the fintech startups to survive and grow.

Behavioral analytics help in fraud prevention.  Fintech companies handle very valuable data and hence data safety is of prime importance.  Using smart analytics will help the fintech startups to prevent data theft.

Using smart analytics will help the startups to move ahead easily.  Data science is the emerging trend in information technology.  It has a lot of potentials and offers huge opportunities.

In order to meet the compliance standards, smart analytics will help the fintech startups.  Also, it will help in providing value-added services to customers.  To ensure better customer support and prompt delivery, fintech startups surely need smart analytics.…


5 Tips to avoid Your Personal Loan Application Being Rejected

Ensure following points to avoid your personal Loan Application being rejected:

Full details:

Please fill all the mandatory details like Name, Age, Income details etc without any mistake.  Please recheck once before submitting the application.  Any mistake in the loan application will result in rejection.  Also not filling the mandatory particulars may also result in rejection.

Proofs:

Financial institutions seek certain proofs which may be a mandatory legal requirement as per legislature of a country.  Those may include, Age proof, Address and ID proofs, Income proofs etc. Provide all the correct proofs clearly and legibly.

Satisfaction of eligibility conditions:

Collect all the details regarding the loan.  Most of the lenders like http://www.nettivipit.fi/ provide full details about the eligibility criteria and other FAQs on their websites.   Most lenders specify eligibility conditions like security, job stability of borrower, Age limit etc.  Hence check the eligibility/preconditions- For example Security which you are offering for the loan is sufficient as required by them.  In case of any doubts check with customer support for an alternative or relaxation is available.

Credit score:

Financial institutions all over the world, pre-verify the credit ratings of the borrower.  Hence ensure that your entire existing loan EMIs are not outstanding and paid regularly without any delay.  Any bad credit score/rating will result in rejection of the loan.   Hence ensure a good credit history.

Loan purpose:

When the purpose of the loan mentioned in the application is invalid the loan will be rejected by financial institutions.  In the loan application always state a valid/reasonable purpose.

While filling the application don’t assume or ignore any point.  Even get small queries clarified with the customer support team.   The above points assure full guarantee in getting a loan application processed fastly and successfully.   So get your loan application processed without any rejection in one go.