Lending will undergo dramatic transformation in 3 years: BCG's Saurabh Tripathi
1 min read 15 Dec 2021, 04:10 PM ISTFurther, a significant share of customer interactions for lending will shift to digital platforms where customer traffic is there. And we will see more context-specific and low-ticket loans, Tripathi said.
PremiumLending is going to be dramatically different in three years time as it will be increasingly data driven with intense competition from digital platforms, said Saurabh Tripathi, Managing Director & Senior Partner, BCG at 14th Mint Annual Banking Conclave
Speaking on the future of banking in India, Tripathi said, a significant share of customer interactions for lending will shift to digital platforms where customer traffic is there. And we will see more context-specific and low-ticket loans.
“Aggregators and open credit enablement networks (OCENs) are the two big things that can disrupt the banking industry in a massive way after UPI," he further added.
OCENs are a set of open standards that can be used to facilitate the various aspects of the lending. It basically creates a platform for collaboration and partnerships between lenders and digital platforms.
