To lend! – An expression that provokes a series of nightmarish emotions such as complex documentation and endless scrutiny.
Traditional financial institutions are archaic, slow and inefficient for the millennial population.
We needed a change – a solution to traditional remedies. The solution is a lending platform that uses minimal documentation and provides fast disbursements. So, read on to find out more about it …
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Digital data is exploding, as is the need for people with the skills to use data effectively. The market has exploded with varied courses and specializations in the field of analytics. A typical course is from 20K to 2 Lakhs or more. This requires that the aspirant have sufficient funds and otherwise acquire financial aid. The institutions that offer such support treat it as a personal loan. High interest rates are charged and credit history is assessed.
Most aspirants who are recent graduates or young professionals have no idea about all of these financial concepts and tend to have a hard time getting a loan.
Singh Loan – An intellectual product created by Seynse Technologies Pvt. Ltd, based in Goa.
This is a credit model built in-house by Seynse Technologies to leverage digital data using data science techniques (which include statistics, math, data collection, and modeling to name a few). The model assesses a borrower’s creditworthiness using readily available professional, educational, social and financial data. Currently, the model’s default rate is 0%, due to its risk model.
LoanSingh is trying to revolutionize the way loans are made, specifically for improving the professional skills of aspirants with no credit history (around 85% of the Indian population).
Loan process at LoanSingh – A simple digital process comprising the following steps:
- Social user authentication.
- The loan application is filled out by the user – Education, company name and salary.
- Download the bank statement for the last 6 months.
- Loan approved within minute and EMI is shown to borrower based on his score.
- After approval, the borrower must submit the agreement and a post-dated check. After which, the loan amount is paid within a few hours.
The LoanSingh team has built a platform that introduces lenders to borrowers. They are facilitators of the loan process. They are not directly involved in the transaction process.
LoanSingh selects creditworthy borrowers using their flagship scoring model called “Seynse Score”. They use the demographics and current financial condition to perform the borrower’s credit assessment.
You can track your EMI status through your saved dashboard. Minimum documentation required. No paperwork and quick disbursement.
With a dedicated and experienced team, Loan Singh is quickly becoming a major player in the flourishing P2P lending scene in India.
To find out more, call 1800 2744747 or send an e-mail to [email protected]
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