This alternative lending platform feels consumer lending is more than just a trend
Vikas Kumar says unlike a bank, which generally offers one vanilla product to salaried borrowers – term loan, LoanTap focuses on need and cash flow-based products. Their product range varies from EMI free loans to overdraft to wedding loans to holiday loans.
From "munafa" to creating value over valuation
Vikas Kumar, Co-founder and CTO of LoanTap, stress on funding as an important means to survive, “The start-up is not strapped of cash. It should be able to raise funding at the appropriate time.”
Here is Why Customer Acquisition is Still a Challenge for Alternate Lending Platforms
With the emergence of new age technologies like artificial intelligence, the alternate lending platforms have been successful in making a mark for themselves – all thanks to data boom and initiatives like financial inclusion.
Here Are The Best Ways For Lending Companies To Maintain Low NPAs
As bad loans continue to plague the country's economy, it is now critical for lending institutions, to be careful about allotting loans and stringent about having a robust collection mechanism. Satyam Kumar, Co-Founder and CEO, LoanTap, follows leveraging proprietary algorithms to generate customer credit score.
How Fintech Companies are Eyeing Huge Growth Opportunities After Budget 2018
The allocations made in this year's budget are clearly indicative of how integral new-age fintech start-ups have become to the Indian economy. According to Satyam Kumar -CEO and Co-founder, LoanTap, the biggest push, however, has come in terms of the infrastructural development that is going to support the digital economy.
Flexible Credit: Why Alternate Loans are Becoming More Popular than Credit Cards
On top of the customer benefits, rewards, and user privileges, they give professionals the financial freedom to perform an array of transactions without fretting too much about their bank balance. This is precisely how people find themselves within the firm grasp of the debt trap. The borrower ends up paying the minimum due payment, which essentially is the interest rate at an inequitable 40 percent per annum.