BCT Digital, part of Chennai headquartered Bahwan CyberTek and a fintech firm have announced the launch of early warning systems (EWS) for credit monitoring, touted to be first-ever real-time monitoring solution to tackle non-performing assets (NPAs). The product is running in top public and private banks in India and across the globe.
According to a release by BCT Digital, there has been an alarming increase in the number of bad loans, frauds, and non-performing assets in banks in recent times which have resulted in a critical imbroglio in the Indian banking system. The lack of due diligence before and after loan disbursal is the single largest contributing factor to these frauds apart from defaults, economic slowdown, and lax lending practices.
