Updates from i-lend

We the folks at www.i-lend.in have been working hard over the last few months to improve your experience with i-lend and also to provide several tools, information and resources to improve your credit decisioning . Some of the most important features that are being added include:

Online KYC   

The entire KYC of the borrower is now online - How does that help you ? With moving the KYC ( Know your customer ) information online, the immediate benefits to lenders is that verification of borrowers credentials takes place across multiple data points and hence the chance of frauds occurring will reduce drastically. What this means is that a borrower credentials will be checked across several databases online like drivers license, PAN card, Aadhar, Bank statement, utility payments etc and validation of information and its accuracy will be instantaneous.

Credit Scoring Introduced 

While www.i-lend.in is not provided official access to Credit scores we have done one better and have developed a methodology through a partner company which scores people on their social behaviors. So by looking at their behaviors across various social media like FB , Linkedin, Google + etc we now assign a credit score and this credit score has been matched with existing credit scores from the bureaus and comes out favorably. With these scores we now rate borrowers based on their risk profile which will allow lenders to take an informed decision and price loans accordingly.

Institutional Lenders

After much internal deliberation we have signed an institutional lender on the www.i-lend.in marketplace. Star Finserv, a registered NBFC is our first institutional lender.

Other happenings

www.i-lend.in has been invited by FICCI - IBA conducted Annual Banking Conference to speak on disruptions in consumer and SME banking. This is the official body of the banking industry and we are extremely proud to have been invited there. 

Event Photos