The reasons to invest in digital lending solutions continue to become more powerful. There is growing demand from customers for greater personalization and for ways to easily apply for loans, In a country like India, where disparities are sometimes poles apart, ensuring financial equality becomes an issue of prime importance. One of the reasons why the government started reciting Cashless Economy and Digital India was to improve access to financial resources. There are multiple benefits that digital payments bring to the table.
Fintech companies have drastically transformed the income and spending patterns, monetary liquidity situations, solidifying digital payment habits, ensuring that the financial infrastructure in India can only grow from here.
GalaxyCard
Incepted in 2018, the company has acquired a huge customer base from more than 600 towns across the country. The digital credit card can instantly be made available within 3 minutes and benefits the customers with no annual, joining, or interest charges. GalaxyCard focuses on making credit cards easily available to customers with an income of less than 30k a month. Customers can simply download the app and make a free online registration for processing. The entire application process is digital and requires three basic details – PANCard, Aadhar Card, and Bank Statements. Unlike the traditional lending process, it eliminates elaborative paperwork and long processing duration.
LendingKart
Founded in 2014, LendingKart’s primary mission is to make it easy for SMEs (small and medium enterprises) in India to have easy credit access. It operates as an NBFC and focuses on the MSME lending and capital space. LendingKart uses big data analytics to help lenders determine a borrower’s creditworthiness. It also completes the loan disbursal process much quicker than the traditional banks.
Loan Tap
LoanTap Financial Technologies is an online platform committed to deliver customized loan products to millennials. The Pune-based company was established in the year 2016 with an aim to provide a seamless consumer experience from the application to the disbursal process. The platform is said to be committed to delivering flexible loan products to salaried professionals. LoanTap offers loans to help millennials achieve the life they desire. The company is said to deliver fast personal loans at customer-friendly terms. LoanTap’s focus is to delight its customers by helping them choose the best loan products.
CASHe
Mumbai-based CASHe is a digital lending platform for young salaried millennials. CASHe provides instant short-term personal loans ranging from INR 7,000 to INR 300,000 for a tenure of up to 1 year to young working professionals based on their social profile, merit, and earning potential, and the company uses its proprietary algorithm-based machine learning platform.
Submitted by: Column Inches PR