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Akme Fintrade develops digital lending platform for rural Indians


Akme Fintrade (India) Ltd., a two-decade-old non- banking finance company (NBFC), is developing a fintech-led digital lending platform to offer lending solutions for rural people under the brand name aasaanloans.com, a top executive said. 

“Aasaanloans.com will utilise technology and the experience generated from serving customers since more than two decades to ensure right amount of credit to the right borrower at right time and that too digitally and interacting with their own language,” said Nirmal Kumar Jain, MD.

“The platform will provide customised products like 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 of loans to happen digitally,” he added   

He said the firm was upgrading its policies, procedures and guidelines in this phase of growth and would use the digital platform to achieve scale. 

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

The NBFC operates predominantly in southern Rajasthan and provides financing solutions for its customers in rural geographies. It has extended its presence to rural geographies of Gujarat, Madhya Pradesh and Maharashtra. 

Stating that credit demand from the rural economy was growing, he said there were still challenges like last-mile connectivity, linguistic obstacles, and a lack of organised financial information for clients in these locations.

Emphasising that regional NBFCs are transforming themselves in current times he said these entities have a plethora of information about their consumers which could be digitised and leveraged to make intelligent lending choices and cross-sell possibilities, guaranteeing optimal resource utilisation and profits.

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