In the FinTech industry, the lending and finance solutions space has seen inordinate innovation across the globe. It is not just new FinTech lending models, but lending processes such as onboarding and credit profiling are also witnessing innovation driven by traditional lenders and new FinTech innovators. These lending solutions are at the cutting edge of technology, leveraging data science to introduce efficiencies, predict customer behavior and reduce lending risks. Modern-age lending solutions seek to provide a digitally native customer experience. All in all, this space will continue to see rapid innovation.
Lending platforms now need to scale up to a huge aggregate volume of data from disparate sources to support lending models. These platforms require to be at the cutting edge of the data engineering technology stack. The risk profiling and decision models need to execute in real time. It implies that the platform is architected to support the expected level of scalability and performance. The wide range of user demography poses a unique challenge for a seamless digital user experience. The platform engineering team also needs to ensure the highest data security and regulatory compliance with applicable geographies.
