Only if lenders minimize the length of the process taken to originate and disburse loans, this can be achieved. I’ve noticed many institutions asking for n-number of data points through their websites or apps prior to the loan application. Are they really using these many data points to check creditworthiness?
Millennials can easily fill out these forms/fields, but older people and those from rural India can’t be expected to labor through so many questions. People like my father, who are unfamiliar with digital lending processes, will expect to fill out only relevant information to avail of loans. So if lenders are able to minimize this loan origination process, then the opportunities across an older demographic and rural India are bountiful.