New Delhi, Aug. 21 -- The lending ecosystem world over has become significantly more interconnected over the past decade. Traditionally, a financial institution was contacted by the borrower, who handled every stage of the lending journey, from customer acquisition and underwriting to funding, servicing and collections.

However, in this new era, collaboration is key as banks, non-banking financial companies (NBFCs), fintechs, and technology platforms work in partnership. While the customer journey spans multiple platforms rather than being concentrated within a single institution, lending risk is also distributed across multiple entities.

The model work such that some institutions originate customers, others provide capital, while techn...