It may be contended that such capital necessities dictate that digital lenders function discreetly in managing commercial and financial risks. A key feature of digital credit is generating credit scores from digitized financial transactions. Digital lenders become very useful in such occurrences of shocks since loans can be made remotely and instantaneously, with no need for human mediation. In the past several years, digital lending has swiftly flourished in the developing world, particularly in Sub-Saharan Africa and South-East Asia. Digital lenders are backing regulations that follow innovation to ensure that we come up with progressive regulations that address issues as they emerge.

Source: The Star October 26, 2020 00:56 UTC