The relentless rise of fintech start-ups of late is helping boost financial inclusion in our country by allowing those long-term unbanked and underbanked populations who are typically found in remote locations to have access to a broad array of financial services.
‘Kaise Bachaayen, Kaise Badhayen’, Money9’s latest show, is where we speak with the new age fintech majors to find out how they bridging this gap. This edition features Smartcoin, a mobile-app lending platform.
Rohit Garg, Co Founder and CEO, Smartcoin shared insights on the journey so far for the company and how they ensured that credit was available for the underserved sections of society in the challenging times of Covid-19.
“Finance is one of the fundamental bottle-necks, even more for the more vulnerable sections of the society like self-employed businesspersons and lower-wage employees due to the unavailability of financial credit in the event of emergencies. None of these were ever served by large institutions. Technology has changed meaningfully. Our intent was to make use of modern technology and access to internet to ensure these sections are reached out. We firmly believed this would change the way we do business in India ”
On the process of getting credit he said that via the Smartcoin app which is free of cost one can get loans of as low as Rs. 1000 are available for those in need, going upto Rs 1,00,000 as the highest ticket size.
He also shared the future prospects of the company, the process of KYC, application of loans and the other products being offered by the company.
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