What makes digital lending so compelling to me?
The word loan resembles a responsibility, a need, and in many cases, it is associated with dreams and hopes. Easy access to loans is everybody’s wish. But how many borrowers can get through in a traditional lending system?
Large turnaround times, lengthy onboarding processes, stern KYC, and long disbursement wait times. The cash flow is literally strapped, be it individuals, SMEs, or MSMEs.
That’s what I wanted to solve when I started CloudBankin(https://lnkd.in/esNPc_2u) a few years back. Why can’t we make the lending process easy, quick, seamless, and transparent?
Now, it turns out my conviction is true.
Fast forward to the present,
1) Quick turnaround times,
2) Easy onboarding,
3) Simple KYC, and
4) Disbursements within minutes are the natural attraction to borrowers in availing these digital avenues to secure credit.
5) Foreclosure can be done in mins.
So, that’s my why! What’s yours?
Why do you think fintechs and digital lending are the future?
#manispeaksmoney #fintech #digitallendingisthefuture #digitallending