How AI is shaping the microlending sector - Express Computer

Ever since microfinance came into the picture several decades ago, it has been continuously transforming the lives of the economically backward across the world. Micro-lending has been instrumental in pulling millions out of the clutches of poverty. It has helped millions of small-scale entrepreneurs realise their dreams. Starting from providing loans to people with minimal to no access to traditional banking, microfinance has now graduated to micro-savings, micro-insurances, fund transfers, payment services and remittances. Microfinance companies have been continuously looking for avenues to expand their reach into the potential markets and investing heavily in doing so.