A new study has found that the operational cost savings from using chatbots in banking will reach $7.3 billion globally by 2023, up from an estimated $209 million in 2019. This represents time saved for banks in 2023 of 862 million hours, equivalent to nearly half a million working years. According [...]
Traditional lending takes around 72 to 90 hours to provide conditional approval of loans to customers due to which a challenge arises that customer drop off rate after 24 hrs starts increasing anywhere between 20% to 70%.
The technology behind the secure, simple and fast lending we have at our fingertips today has completely changed the way we borrow. From faster loan approval to the ability to click a button or two and get pre-approval for a loan that might’ve previously taken weeks. How it all [...]