IndusInd Bank launches digital credit platform
The private lender IndusInd Bank announced on Thursday a comprehensive digital credit platform on which its existing customers as well as customers of other banks can take out personal loans or credit cards.
“IndusEasyCredit offers a fully digital end-to-end process that uses the capabilities of India’s public digital infrastructure – Indiastack to offer paperless, non-presence and cashless personal loans and credit cards,” said a statement from the bank.
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The stack uses 35+ interfaces to digitally review KYC and employment information as well as analyze bank statements, adding that it then uses advanced machine learning analytics and models to assess eligibility in real time.
The customer can then perform Video KYC and have the loan paid out digitally to their account after the contract is signed without going to a branch or having to carry out lengthy documentation. The stack is also leveraged by various partners in the bank.
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âIndusEasyCredit offers customers the flexibility to take out a personal loan or credit card on a single platform, completely seamless, paperless and digital. We believe this offering will give customers a differentiated banking experience, âsaid Charu Mathur, Chief Digital Officer and Head of Business Strategy, IndusInd Bank.