Celebrate demonetisation with these fintech platforms for SMEs

ANI | Updated: Nov 08, 2017 09:31 IST

Celebrate demonetisation with these fintech platforms for SMEs .

New Delhi [India], Nov . 8 (ANI): In the wake of one year of demonetisation, which was an overpowering attempt to curtail corruption in the system, there are a few platforms who relentlessly worked over a distinguished model to support the SME sector .

These platforms leveraged a digital route to help consumers as well as small businesses, keep up with the situation .

Here are four platforms, which helped SMEs and individuals with their working capital needs:

LoanAdda .com

LoanAdda .com is a financial technology company that delivers a range of custom-tailored financial services with a focus on under-banked consumers across the globe . They use big data analytics and artificial intelligence to bring relevant offers to customers . These automated processes ensure quick customer turnaround and minimal paperwork .

During demonetisation, LoanAdda witnessed a surge in number of applications by small businesses applying for loans to meet working capital requirements .

Instamojo

After Demonetisation, Instamojo introduced a two minute instant on-boarding process for micro SMEs to accept digital payments via WhatsApp, SMS, Email, Facebook, and QR codes among others .

The company claims this is the industry's fastest on-boarding process to accept digital payments .

BankBazaar

BankBazaar is a popular online stop for loans, insurance, and other financial products . During demonetisation, when a lot of people required a quick financial support, BankBazaar was available with a click .

The company made it simpler for consumers to avail loans while comparing the interest rates of various banks .

Razorpay

Post demonetisation, Razorpay introduced a one-hour 'Express Activation' for all offline businesses to start accepting online payments .

This feature allowed merchants to get their account approved and activated within one hour of submitting relevant documents . (ANI)

iocl