The Economic TimesOct 22, 2021Close to half of retail, MSME loans to move to digital lending in 2-3 yrs: Union Bank MDHe said the digital lending space is gaining traction and banks need to develop products that can deliver services online to customers.MUMBAI: With digitization gaining pace, close to 50 percent of retail and MSME loans offered by banks will shift to digital lending platforms over the next two to three years, Union Bank of India's Managing Director and CEO Rajkiran Rai G said on Thursday.Speaking about the entry of fintech in the banking space, he said initially it was thought that fintech will compete with banks, but now the relationship between the two has become more symbiotic.Read more at The Economic Times
He said the digital lending space is gaining traction and banks need to develop products that can deliver services online to customers.MUMBAI: With digitization gaining pace, close to 50 percent of retail and MSME loans offered by banks will shift to digital lending platforms over the next two to three years, Union Bank of India's Managing Director and CEO Rajkiran Rai G said on Thursday.Speaking about the entry of fintech in the banking space, he said initially it was thought that fintech will compete with banks, but now the relationship between the two has become more symbiotic.Read more at The Economic Times
