Connected digital banking is a framework that integrates various banking services and financial technologies to provide a seamless and personalized experience across different digital platforms. Modern banks are strategically transforming to deliver a connected digital experience to their customers, such as tighter core banking integration, enhanced customer engagement, and innovative products.
The traditional way of lending by banks is slow, cumbersome and paper-intensive. To increase their loan portfolio and reduce the risks associated with lending, financial institutions are looking for ways to streamline and standardize the process. This highlights the growing demand for process automation. Can BaaS enhance operational efficiency in lending by virtue of its collaborative framework.