Private sector lender IndusInd Bank on Thursday announced a comprehensive digital lending platform where its existing customers as well as customers of other banks can avail personal loans or credit cards.
“IndusEasyCredit offers a fully digital end to end process that leverages the power of India’s public digital infrastructure – Indiastack to offer personal loans and credit cards in a paperless, presence less and cashless manner,” the bank said in a statement.
The stack leverages more than 35 interfaces to digitally verify KYC and employment information as well as analyse bank statements, it further said, adding that it then leverages advanced analytics and machine learning based models to assess eligibility in real time.
The customer can then conduct Video KYC and get the loan disbursed into his or her account after executing the agreement digitally; without having to visit a branch or do any lengthy documentation. The stack will also be leveraged by various partners of the bank.
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“IndusEasyCredit provides customers with the flexibility to avail a personal loan or a credit card on a single platform, in a completely seamless, paperless, and digital manner. We believe that this proposition will offer customers a differentiated banking experience,” said Charu Mathur, Chief Digital Officer and Head-Business Strategy, IndusInd Bank.