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The Digitalization of Financial Systems The finance sector is being shaped up by digital transformation like every other industry. The fintech industry is the most effective lending channel transforming the traditional way of banking for the end-to-end customer journey. The digitalization of business operations has massively had a lending hand in improved production capabilities, resource management, and employee efficiency. Here is the journey and benefits of the digitization of financial systems. Impact on Economy MSMEs are the backbone of the economy, having a share of 29.7% of the Gross Domestic Product. Post-lockdown, fintech platforms enabled MSMEs for easy accessibility in achieving financial requirements boosting their effect on the economy by huge amounts.

Benefits of Taking Loans from Bank Guarantees A bank guarantee is a type of financial guarantee that can be provided by any lending institution like a bank. A bank guarantee ensures a lender’s word about a debtor’s liability. It ensures that even if the debtor fails to pay back, the bank will cover it. WHY YOU SHOULD RAISE FUNDS WITH A BANK GUARANTEE ● Increased Opportunities: Bank guarantees help small businesses by opening the windows to all kinds of new opportunities. It shows the world that a bank stands with a business to give them a guarantee, it develops credibility for small businesses. ● Reduced Financial Risks: The reason bank guarantees came