GST would help in making all transactions of the business available for review by lenders (based on consent by customer). I believe that we should see API level integration happen between GST platforms and Digital Lending Platforms.
There would be potential reduction of costs by atleast 100 to 200 basis points for SME businesses… WIN WIN for all
– Customer gets cheaper loans
– Lenders get data to analyse risk and avoid potential defaulters
– GST partners will get additional revenue streams
What are the other areas, where GST will enable lending…