Lendingkart Technologies Private Limited, India’s leading fintech company, today announced the launch of its Co-Lending SaaS Platform called “Lendingkart 2gthr”. Lendingkart 2gthr enables Banks and NBFCs to seamlessly on-board within 2 weeks and disburse unsecured loans to MSMEs across India. The platform enables co-lenders to initiate processing loan applications with end to end funnel visibility and control. Co-lenders can review and approve loans through a custom dashboard which provides information and insights enabling real time decision making.
Lendingkart collaborated with Banks & NBFCs in a risk sharing partnership to assist them in extending their reach to remotely located MSMEs across India leveraging Lendingkart’s omni channel capabilities. Backed by LendingKart’s robust technology platform, “Lendingkart 2gthr” provides enhanced loan management capabilities, specialized Credit Underwriting model and flexibility to configure co-lender specific policy rules to support all stages from origination to disbursal. This equips financial partners to seamlessly scale their lending operations with all information and documentation available to them in real time. It also exposes powerful API integration endpoints for Banks and NBFCs who choose to directly integrate with their existing systems.
Co-Lending platform “Lendingkart 2gthr” not only provides them access to MSMEs across India, but also drives business efficiencies by leveraging the recent increased adoption of technologies via digital mediums (mobile app/ website), e-kyc, e-sign, e-nach, and powered enhanced capabilities such as OCR, real-time fraud triggers, verification to support the origination and loan delivery especially in the post lockdown New Normal times, where the contactless delivery has become the preferential approach and need of the hour.
Harshvardhan Lunia, Co-Founder & Managing Director of Lendingkart Technologies said, “The Indian MSMEs growth story has been long in making and we have experience spanning over a decade in solving problems for this segment of the ecosystem. Our objective has been to enhance credit penetration to credit starved and worthy businessmen and the platform “Lendingkart 2gthr” is a stepping stone in enabling the financial institutions to play an equal part towards achieving it. It addresses all the requirements of Banks and NBFCs that are precursors for them to diversify in the MSME segment and provide an all-inclusive one stop solution from origination, underwriting, loan delivery, servicing, monitoring portfolio performance and insights with recommendations, leveraging Lendingkart’s self-learning underwriting model. We believe that by partnering with Lendingkart and getting onboard on this platform, FIs can play a significant role in addressing the credit gap in this underserved but high growth potential sector. We look forward to and are prepared for more such partnerships becoming the norm to achieve the objective.”
“”With the goal of creating seamless access to financing, Northern Arc Capital has integrated its agile digital platform Nimbus with Lendingkart’s co-lending platform. This allows us to efficiently deliver credit offerings to MSME’s across the country. Together, we cover the entire gamut of credit opportunities through a suite of innovative products and structures,” said, Kshama Fernandes, MD & CEO, Northern Arc Capital.
Lendingkart has been at the forefront in leveraging the digital tools video KYC, participating with India stack, e-NACH, e-sign, which has tremendously enhanced the capability to deliver their offering to remotest locations and hinterlands in the country. The lending FinTech extends its services pan India with no branch presence and supported by upgraded technology infrastructure that allows zero physical touch points, customer-centric and 100% transparent loan process for customers and partners. Lendingkart underwriting model is not limited to traditional financial basis, and instead adopts a holistic approach of evaluating alternate customer data e.g. bank data and GST data to estimate the customer credit worthiness. The underwriting is based on its proprietary machine-learning model working on close to 5,000+ variables for each loan, which has resulted in strong portfolio performance.