CAPITAWORLD TO LAUNCH REVOLUTIONARY ‘SMART LOAN - DISINTERMEDIATION ECOSYSTEM’
Bangalore, 28th Feb 2018: CapitaWorld - a leading digital platform that automates the entire loan value chain has today rolled out the first version of their revolutionary ‘Smart Loan -Disintermediation Ecosystem’, a fully integrated lending system which will be beneficiary for MSME’s thereby creating a new source of credit for a large, thriving sector of the economy whose borrowing options are limited.
Similarly,this Ecosystem will be a game changer for Banks/NBFCs, using thisEcosystem they can easily enforce credit discipline across banks andreduce deviant behaviour by individuals. This initiative will be a conduit forreducing Non-performing Assets (NPA) as it works on data transparency,data analytics, artificial intelligence which does not have any humanbiasness.
The “SmartLoan - Disintermediation Ecosystem” will help MSME’s to ease the entire lendingprocess by reducing the turnaround time by 70%. It will reduce the processesthat took months to days and from days to hours – infact real time as well. Itwill help people raise funds from banks and NBFC’s by filling up the ‘One Form’which the system maps and matches with fund providers using proprietaryprocesses along with validations, authentication and scoring, creating acomplete, scalable and robust recommendation system thereby saving 60% branchlevel cost and 80% paperwork. This system will also use analyticsto carry out verification and credit risk scoring and then match the borrowerwith multiple partner banks and NBFC’s whose credit risk appetite match theborrower’s profile.
Jinandshah, Founder & Promoter, CapitaWorld speaking on the benefits said, “We havedeveloped an innovative way to compete in lending space for thousands ofmid-sized players. There isn’t any process which gives ease in your paperworkwith transparency. CapitaWorld is offering the MSMES’s with something newer andfaster. It will be a direct connect for the MSME’s to get funded.”
Commentingon the initiative, Shailesh Haribhakti – Chairman, NHBS Group said, “Itwill be a new platform for MSME’s where they can easily do the lending process,with hassle-free manner. CapitaWorld has created the world’s first end – to –end connected and fully integrated system with due diligence features for themarket. This platform will help MSME’s to save time & energy.”
Also presentat the launch Mohan Tanksale, Ex IBA Chief highlighted, “Thereare significant advantages for both borrowers and lenders by entering into thistype of arrangement. For hundreds of thousands of mid-sized businesses lookingto borrow, there aren’t many options that provide a smooth, transparentexperience. We are happy to state CapitaWorld initiative is a real boon for theBanks as it will help the bank to reach out to theses MSME’s across every segmentof the country.”