The digital lending market was valued at USD 334 million in 2021. This interview explores emerging opportunities and risks in the digital lending space in the context of two factors which are fuelling its growth – the unbanked population and the evolving expectations of the banked population, on the retail side and the global trade finance gap on the SME side. With growing players each carving out a niche on one hand and customers on the other, demanding an above par service, anytime and every time, what trends will the industry witness.

The digital financing frenzy has simultaneously created an easy environment for hackers and financial crime.  What are the challenges that FIs need to address to maintain data integrity and security as fraudsters exploit the digitalization phenomenon.

In this IFN podcast, L Guru Raghavendran, Senior Vice President, Banking & Capital Markets at Azentio Software, expounds that riding the wave of digital lending pivots on three aspects – origination, service excellence and application integration. He explains the key characteristics that will shape reliant and resilient digital lending models here forward. And as associated risks evolve, which new spheres are susceptible to fraud. What are the current mechanisms employed to tackle risks and what can further strengthen the risk management framework, e.g. are banking customers educated on the precautions to be taken while leaving their digital footprints?

About the Host

Vineeta Tan, Managing Editor & Director, Islamic Finance news (IFN)

Vineeta is a global financial journalist specializing in Islamic and ethical finance with over a decade of experience in the media and publishing industries, working independently as well as leading a niche team of financial media professionals.

About Islamic Finance news (IFN)

Founded in 2004, Islamic Finance news (IFN) is a digital weekly journal, providing exclusive and comprehensive coverage of the global Islamic financial markets, in addition to daily news service, quarterly supplements and a variety of special annual issues. It provides unparalleled insights into the issues affecting global Sharia-compliant markets along with in-house analyses, expert external contributions, news, interviews, reports, industry and sector data, and more. It is a part of the REDmoney Group, the foremost global provider of specialised Islamic financial media services across publishing, events, and training.