New Delhi [India], Apr. 21 (ANI): With an increase in the detection of banking frauds in the recent past, small-scale business entities in the micro, small, and medium-sized enterprise (MSME) sector are now turning to Non-Banking Financial Companies (NBFCs) for their financial needs.
This is a non-deposit taking NBFC, providing SME lending in India. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. It uses technology and analytics tools, analysing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
It is a commercial institution built around the mission to solve these challenges of funding MSMEs and enabling their inclusion into the mainstream of the economy. Aye Finance differentiates itself by creating a technically enabled process that builds credit insights through a variety of available business and behavioral data. This effective credit appraisal coupled with the use of modern workflow automation, and a small but engaged workforce is helping bridge the gap between the MSMEs and organised lending.
Faircent, a P2P platform has been facilitating loans for number of businesses across the country. Its tech-enabled backbone makes the entire process and hassle free. Each borrower that registers with Faircent is evaluated based on his ability, stability and intention to repay across more than 120 parameters processed through access to more than 400 data points. The strong algorithm helps finding the apt lender for borrowers on the basis of borrower's profile.
It is a new-age financial services group that aspires to be the one stop shop for the customers to fund their financial needs. The company endeavors to disrupt the status quo in traditional lending that seems to exclude those most in need of credit, due to outdated, rigid, and often inefficient processes. InCred offers a broad portfolio of products that cuts across four key categories - affordable housing, education, SME and consumer loans.(ANI)