Bengaluru-based Avail Finance, which is backed by the likes of Bhavish Aggarwal and Binny Bansal, partners with non-banking financial companies to help disburse easy loans ranging upto INR 50,000.
The future posits that NBFCs will continue to experience robust growth with minimal instances of delinquencies if the credit flow doesn't stop and the risk mitigation mechanisms improve.
Some fintech start-up founders and company leaders share their thoughts about the trends that they noticed in 2019 and what they expect from the upcoming year.
Uncertainty and delay in loan disbursement, high processing fees, lock-in periods, preclosure charges make access to credit near impossible to many entrepreneurs. FinTech firms are disrupting the borrowing space
Studies anticipate 15x growth in digital lending to MSMEs by 2023, owing to rapid digitization and access to easier, cheaper credit facilitated by digital lending companies
Alternative credit scoring based on digital data provides lenders a more holistic view of a borrower's creditworthiness and associated risks for credit underwriting
You pick and choose what is the best for your needs instead of just taking what the traditional banks use to offer with zero flexibility and payment options
When we put the credit gap of more than $230 billion that is experienced by entrepreneurs running a very small business we can clearly realize the prevalent disparity
MSME digital lending has the potential to grow 10 to 15 times larger by 2023, to INR 6-7 lakh crore, or $80-100 billion nearly as large as the entire global microfinance industry today
From having humble, pastoral beginnings to becoming mission-driven banker who has become a compelling force in solving the problem of access to finance in the economy, the story of Kshama Fernandes is such wonder, well, with a bent of credit!
Prior to dedicating all his efforts on his first venture, CreditMantri, Ranjit spent 23 years working for different consumer in lending businesses in 53 countries.