Digital lending is the process of offering loans that are applied for, disbursed, and managed online. The process is designed to fulfill the unmet credit requirements of consumers who do not have access to loans via traditional banking channels that require collaterals for loan approvals.

Today, both banks and non-banking financial companies (NBFCs) are using multiple digital channels to design and remotely deliver loans to consumers, who were previously underserved due to lack of awareness as well as physical presence of financial institutions across geographical locations. 

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