With the rapid shift to digitalization through automation, adopting a digital platform by the lending sector becomes
crucial. Historically, lending institutions have been using primitive practices in their day-to-day operations, which involve a lot
of manual processes thereby increasing operational costs as well as turnaround time for a loan origination process. This is
mainly due to the high risks and security involved in dealing with huge sum of money. This paper highlights the importance of
the adoption of automation technologies and artificial intelligence to improve on the operational efficiency of lenders as well as
enhance customer experience. In addition, it deals with the future scope of the lending sector and how further improvements can
be achieved
