How to Track Personal Loan Application Status Online?
Personal Loans are the best funding options for people who nee . . .
Apply for Instant Loan
Key Points | Traditional KYC | eKYC |
---|---|---|
Method | Physical documents are submitted and verified | Digital verification of Aadhaar, PAN or other identity documents |
Process | Time-consuming, manual, and paper-based | Quick and efficient due to online verification and digital authentication |
Cost | High operational costs due to manual processing and physical storage of documents | Reduced cost due to online verification and digital authentication |
User Experience | Inconvenient as customers need to physically visit the bank or financial institution to submit documents | Convenient and hassle-free as customers can complete the process from anywhere using their mobile phone or computer |
Accuracy | Dependence on manual processing may lead to errors in verification and authentication | Enhanced accuracy due to digital verification and authentication, reducing the possibility of errors |
Security | Risks associated with physical documents being misplaced, stolen or tampered with | Enhanced security as the process is entirely online, reducing the risk of document theft or tampering |
The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.
Subscribe to our newsletter and get exclusive deals you wont find anywhere else straight to your inbox!