Akme Fintrade develops digital lending platform for rural Indians


Bombay

Akme Fintrade (India) Ltd., a two-decade-old Non-Banking Financial Company (NBFC), is developing a fintech-led digital lending platform to offer lending solutions to rural people under the brand aasaanloans.com, a senior leader said.

“Aasaanloans.com will use the technology and experience generated serving customers for over two decades to secure the right amount of credit to the right borrower at the right time and that too digitally and by interacting with their own language,” Nirmal said. Kumar Jain, MD. .

“The platform will provide customized products such as Aasaan Vehicle Finance, AasaanSaral Udyog Loan, Aasaan Mahila Udyog Loan, Aasaan Farm Equipment Loan, Aasan Gruh Loan to name a few in their own language with end-to-end processing end of the loans that will be done digitally,” he added.

He said the company is updating its policies, procedures and guidelines in this phase of growth and will use the digital platform to achieve scale.

“We believe that Aasaanloans.com will be able to meet the varied financing needs of the rural population and has the potential to become a significant player in the Indian rural lending space,” he added.

NBFC mainly operates in South Rajasthan and provides finance solutions to its clients in rural geographies. It has extended its presence to the rural geographies of Gujarat, Madhya Pradesh and Maharashtra.

Stating that demand for credit from the rural economy was increasing, he said there were still challenges such as last mile connectivity, language barriers and lack of organized financial information for customers in these locations.

Highlighting that regional NBFCs are transforming at present, he said these entities have a plethora of information about their consumers that could be digitized and leveraged to make smart lending choices and cross-sell opportunities, ensuring optimal use of resources and profits.

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