Editorial Team

Each buyer or a private company, sooner or later, understands the struggles for getting proper credit, particularly if the credit is unstable and the need is quick. The most ideal approach to plan for this is to guarantee admittance to an adaptable credit accessible on-request or tap. Apps are the new innovation for a paperless process within seconds or instant loans. As the economy shifts from “respond” to “recoup”, it has created new avenues for fintech to come up with new products, acquisition, technologies and initiatives to help ease customer’s woes and contribute towards building a stronger economy.

1. MoneyTap

MoneyTap is India’s 1st app-based credit line that provides quick, flexible, and hassle-free credit of up to ₹5 Lakh. MoneyTap has been on a phenomenal 4X growth trajectory and has created a loan book of ₹1,500 crores and achieved a disbursal run rate of ₹2,500 crores a year. In an era of coronavirus. MoneyTap introduces a zero-touch model or 100% online process with zero physical touchpoints so that people can get emergency credit from the safety of their homes. People can get instant money through a single touch or credit on a single Tap.

2. InCred

InCred, the new-age financial services platform that provides Consumer and MSME loans has moved its needle towards digitising its verification process for safe and convenient loans approvals. The App will simplify the hassle of in-person visits for the loan process, verification and approvals. The aim of this initiative is to maintain minimum face to face interactions, instant loan approvals and ensure faster closure.

3. ProgCap

Progcap is a financing solutions provider that caters to the credit needs of last-mile retailers. The platform is plugging the credit gap via a mix of technology and supply chain evaluation for credit assessment. Overall, it provides capital and technology solutions to increase the profitability of its customers, manage their cash flows, and help them advance towards a higher growth trajectory. They have added new FI lending partners during this time and the existing partners are opening up higher credit limits. They have also launched a host of new products and services to support complete digital onboarding and transactions for our customers.

4. Vivifi

Vivifi is an RBI-certified non-banking finance company (NBFC) enabling easier and more direct access to credit for the underserved communities in India. It offers sachet sized loans to customers who have the ability and intent to repay.
Vivifi commenced its journey with its flagship lending product FlexSalary – India’s first Personal Emergency Line of Credit. The company is now layering payments on the UPI back-bone to provide a digital credit card experience for the underserved through Flex Salary.  People can get instant credit within 5 mins through FlexSalarywith all digital processes

 

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