Enabling better credit decisions using AI and automation × Agile software platforms equip business leaders to standardise decision models with clear business logic, reducing the possibility of human error and speeding up the process. Technologies such as artificial intelligence and machine learning models that were once considered nascent and on the horizon are now at the forefront of financial services, especially lending. Hesitation to adopt these technologies could prove costly for lending institutions because of the game-changing advantages they bring to the business model. Here’s a quick dive into the latest in lending technology and business to know more. Compared to the global landscape, India’s financial services sector has thrived in the past decade. Much of this growth is owed to the rapid digitization of data and data-related products and services. India’s digital thrust was made possible by various public and private collaborative initiatives, many of which were led by India’s government and industry bodies. The resultant outcome has shifted India many places forward according to the global digital competitiveness index and a McKinsey report. Over 80 per cent of individuals now own a bank account, in contrast to just about 20 per cent a decade ago. According to the World Bank, the financial inclusion of unbanked businesses and people has more than doubled in India over 2010-17.