The Future of Finance: 4 Digital lenders you should know about
The future of finance is being reshaped by digital innovation, with traditional banking increasingly giving way to the convenience and efficiency of online lending. Digital lenders are leveraging advanced technology to streamline the borrowing process, offering faster, more accessible, and user-friendly financial solutions. As the demand for instant loan approvals and flexible financing options grows, digital platforms like RupeeRedee, Kredit-Bee, Fibe & Cashe are setting new standards in the industry. Here is what you should know about them, each making significant strides in revolutionizing how one can access and manage personal loans.
RupeeRedee
Incepted in 2018, RupeeRedee is a tech-driven digital lending platform that provides personal loans within minutes. Leveraging technology and data sciences, it serves India’s underserved customers with smooth KYC processes and robust data protection. Customers can get small-ticket loans up to ₹25,000. With more than 1Cr installs on Google Play Store and 400K average website traffic, RupeeRedee operates through its captive NBFC, FincFriends Private Limited, offering short-term loans with diverse underwriting methods. Following the Fair Practice Code, it ensures a hassle-free consumer experience.
Kredit-Bee
KreditBee is a platform that facilitates loan transactions between borrowers and personal loan providers such as NBFCs/Banks. All loan applications are approved and sanctioned by the NBFCs/Banks registered with the RBI. KreditBee takes pride in being inclusive as an Instant Loan provider, where users can apply for Personal Loans up to ₹ 4 lakhs as per the requirement. The documentation needed is minimal and the entire process starting from registration to disbursement takes an average of 10 minutes. The application process is completely online and on approval, the funds are immediately transferred to the bank account of the applicant. There are a number of unique Loan Offers available with simple repayment plans.
SmartCoin
Founded in 2016, SmartCoin Financials Pvt. Ltd. is an app-based consumer lending platform. They partner with RBI-registered NBFCs to offer instant personal loans to self-employed and salaried individuals. With a vision to address the concerns of the vast under banked in India, They are evolving from a micro-lending platform to providing a full suite of offerings, including gold savings, insurance, among others. With SmartCoin, one can get loans from ₹1,000 to ₹70,000 within a tenure of 91 days to 270 days at a minimum interest rate of 20% and maximum interest rate of 36%.
CASHe
Mumbai-based CASHe is a digital lending platform for young salaried millennials. CASHe provides instant short-term personal loans ranging from INR 7,000 to INR 300,000 for tenure of up to 1 year to young working professionals based on their social profile, merit and earning potential and the company uses its proprietary algorithm-based machine learning platform.
