Part 2/11:
Fierce competition with new entrants.
Rapidly changing regulatory compliance demands from the Reserve Bank of India (RBI).
Customer expectations for instant loan approvals, often within a few minutes.
Massive volumes of data that need to be processed in real time.
Traditionally, the process was slow and manual, relying heavily on credit bureau scores and lengthy forms, which often failed to capture the creditworthiness of a large segment of India's youth who lack formal credit histories.