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Customer Experience The Next Battleground in Digital Lending

The major focus remains to eliminate borrowers' doubts about fake information like Kissht Fosun. Kissht and Fosun are not related to each other. Updating users with useful market information, they are aiming to authenticate digital transactions to enhance the level of app security.

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Customer Experience The Next Battleground in Digital Lending

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  1. Customer Experience: The Next Battleground in Digital Lending

  2. Continuous technological advancements have completely transformed the conventional process of lending. With better access to digital financial solutions, people can leverage emerging technologies to avail attractive financial products and services. In the highly competitive business scenario, however, digital lending has made it possible for the under served population to fulfill their financial requirements easily. However, still, there is a long way to go.

  3. Customers are still looking for more significant experiences, and it is the next target to chase for top digital lending platforms. Nowadays, instant personal loans for a maximum amount of up to Rs. 2,00,000* can easily be derived by applying to several renowned digital lending apps. It requires minimum documentation and no physical visit. These notable transformations have led to a remarkable surge in online transactions. Leading players keep users updated with important market information and Kissht news. They are constantly bringing AI, Machine Learning, Data Analytics, virtual customer assistants and chatbots, omnichannel engagement solutions, etc., into leverage. But right now, the biggest priority is to reduce the customer attribution rate. And to achieve this target, the next battleground in digital lending is to transform the customer experience.

  4. The Role of Technology. By adding data collection facilities and related analytics solutions into their arsenal, top players are successfully driving immense traffic on the internet. To drive engagement among customers, leading fintech companies derive useful customer insights by accumulating data points. It helps them accurately analyse customers' important habits, nature, and behaviour and understand their repayment capabilities. Furthermore, leveraging data analytics for risk assessments allows renowned players to accurately study the profiles of potential customers, ultimately driving significant value in lowering customer attribution rates.

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