Gurugram (Haryana) [India], Dec. 30 (ANI / NewsView): Paisabazaar.com, India’s largest digital consumer credit marketplace, today announced that it has strengthened its partnership with Axis Bank, the third largest private sector bank in India, by launching a prequalification program for unsecured loans on its platform.
The pre-qualified program at Paisabazaar.com involves extensive technological and analytical collaboration with banks and NBFCs, which allows some clients to view personalized and pre-qualified loan offers on the fintech platform.
Axis Bank clients, employees and self-employed, eligible for pre-qualified personal loans from the bank, will now be able to view and apply for the same offers via the Paisabazaar platform. This integration would lead to instant access to credit for these selected customers through an end-to-end digital process, which can be completed by clicking a few buttons on Paisabazaar.
Speaking on the partnership, Sumit Bali, Group Executive & Head – Retail Lending, Axis Bank, said: “Our partnership with Paisabazaar.com is one more step towards delivering an enhanced customer experience through a solution financial innovation that is both convenient and easy. Our prequalified credit products involve paperless processes and fast disbursements. The same enjoyable consumer experience on our prequalified products will now also be available on Paisabazaar.com. “
Naveen Kukreja, CEO and Co-Founder of Paisabazaar.com, said: “As a market leader, we remain committed to delivering the best industry experience on our platform for diverse consumer segments and delivering loan solutions. tailored. By deepening our partnership with Axis Bank, we are not only helping a part of the bank’s huge customer base to easily access credit, but we are also making the whole process simple, convenient and friction-free.
Paisabazaar in recent years, especially after the pandemic, has focused heavily on building digital capacity and infrastructure, through closer partnerships with large lending banks, like Axis Bank. Paisabazaar’s prequalified programs with big banks and NBFCs have been built on the basis of a mix of credit history, big data and digital innovations.
Axis Bank is the third largest private sector bank in India. Axis Bank offers the full range of services to customer segments covering large and medium-sized enterprises, SMEs, agriculture and retail businesses. With its 4,679 national branches (including extension counters) and 10,970 automated teller machines across the country as of September 30, 2021, Axis Bank’s network spans 2,658 centers, enabling the Bank to reach a wide range of customers with a range of products and services. The Axis group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.
For more information on Axis Bank, please visit the website www.axisbank.com.
Paisabazaar was India’s largest consumer credit market with a 51.4% market share, based on disbursements in fiscal 2020, according to Frost & Sullivan.
Paisabazaar has more than 50 partnerships with major banks, major NBFCs and fintech lenders to offer a wide choice of consumer loan products on its platform. These strong partnerships, built through the integration of technology and data with loan partners to provide real-time data feeds and status updates, enable the Paisabazaar platform to offer a rapid decision making, easier processes and faster disbursements.
From request to disbursement, Paisabazaar supports the Consumer at every stage, providing last mile assistance such as document collection and assistance until disbursement and advice.
Paisabazaar, since 2017, has also provided consumers with access to credit bureaus reports, providing consumers with free lifetime credit score verification and monitoring.
Paisabazaar has been recognized on several industry platforms with prizes such as “Digital Lending Award” at the Fintech India Innovation Awards, “Excellence in Consumer Lending” at the India Digital Awards at IAMAI, “Outstanding Crisis Finance Innovation 2021 (Asia Pacific) Award ”by Global Finance Magazine,“ Most Innovative Loan Startup ”by India Fintech Forum and“ Most Promising Brand ”by Economic Times.
For more information on Paisabazaar, please refer to www.paisabazaar.com.
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