Gurugram: ‘LT FLoW’ a digital lending platform is all set to unveil ‘I-Loans’, the new face of Bajrang Financial Ltd., a traditional two-wheeler finance company based out of Delhi. Under the new avatar, I-Loans will be providing impact personal loans for blue-collar workers, electric two-wheeler finance and MSME loans to retailers.
Mayank Sangani, CBO and Gautam Sinha, Sr VP -Tech, LoanTap
LT-FLoW is an embedded finance platform designed by LoanTap that helps product and service companies to marry new age or traditional lender and provide credit facility on the platform. The initiative is specially designed for customers to avail instant credit for Electric Two-Wheelers, its digital presence through an application further facilitates, easy EMIs, flexible repayments, and fast processes. The I-Loan application will help customers to avail loans digitally through few clicks, making it easier for customers to access credit at their convenience.
Mayank Sangani, CBO, LoanTap, said, “The transformation of Bajrang to I-Loans is a strategic move by LoanTap to provide easy and quick access to avail electric vehicle loans and it is also a collective effort to provide a singular platform for various products and services, which are being offered by us. We at LoanTap are aiming at complete financial inclusion and hence have chosen to digitize the platform. Through this step we aim at catering to Tier-1, 2 and even the rural areas of the country, it is easier for potential customers to login on a website or application rather visiting a physical branch.”
The company also highlighted a digital platform – LT FLOW, which has been designed by LoanTap for NBFC peers and Lenders, set to improve the overall impact of business. LT FLoW offers the following benefit to its users: End to end digital platform with plug and play features; Highly scalable to configure various products and services thus increasing reach to cities and towns via digital channels; Complete freedom on the financial products which can be offered to borrowers through this platform; and The platform is enriched with AI/ ML and analytics to better understand customer persona and enrich customer experience.
Gautam Sinha,Senior VP Technology, added,
“LT FLoW will allow entities to source, enrich, underwrite and manage
portfolio. It will also reduce TAT with extreme automated workflow and API
supported infrastructure. With the
help of LT FLoW, entities can easily start
digital KYC, NACH, and agreement, along with AI powered credit decision. This
would allow NBFCs to immediately start driving business through digital
channels instead of building another platform. We at LoanTap are trying to
renovate the financial dynamics, and we hope this will facilitate it.”
The benefit of LT FLoW is easy scalability in cities or towns by increasing the reach and creating complete freedom on the financial products which can be offered to borrowers. Through the application, the employees can predict credit Loss and Delinquencies.
LoanTap is a homegrown, hyper-growing digital lender
with its own NBFC, committed to delivering fast, flexible, friendly personal
loans to its audience. Founded in 2016 with an aim to provide a seamless
consumer experience from application to disbursal, LoanTap offers an array of
solutions like Personal Loan, EMI Free Loan, Personal Overdraft Facility,
Credit Card Takeover Loans, Rental Security Deposit Loan, Advance Salary Loan,
and House Owner Loan. Currently, their operations are widely spread across 80+ cities, including
The company has received multiple awards including, the “Best Digital Lender” by Business World in 2021 and the “Most Innovative Product” by ET BFSI. LoanTap has raised a total of $25 million till date with recent funding of $12 million in Series B round led by Avaana Capital, along with participation from existing investors including 3one4 Capital, India Quotient, Shunwei Capital, and Kae Capital. BW
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