BankBazaar launches multi-brand paperless platform for instant loans
BankBazaar.com, India’s financial marketplace, has launched the world’s first multi-brand, paperless e-KYC platform for instant loan approval. This eliminates the need for physical document submission for loan approvals through the company’s online platform. Currently launched for personal loans and car loans, customers can now choose Instant Approval products with 1 business day approval from different lenders.
Speaking about the launch, Adhil Shetty, CEO, BankBazaar.com said, “We are happy to present BankBazaar Paperless stack, the world’s first multi-brand, and paperless e-KYC platform for instant loan approval. We, along with our partners, have been working towards this moment where we take the loan application process completely online and paperless. This is the first step in moving away from paper-based documentation to a more inclusive, convenient digital setup.”
Especially aimed at salaried people from across the country, this initiative allows customers to fast track personal loan and car loan applications by uploading bank statements through net banking. This makes the documentation process completely paperless and pulls down the loan sanction time to as little as one business day.
“The launch of paperless platform for loans is a great example of how the management is focused on building strong technologies for the long term. This product is a first in India. BankBazaar is well poised to launch a single-destination digital platform that will cater to its customer’s needs for a range of all financial services”, said, Abhijeet Muzumdar, Head of Corporate Development, Amazon India.
To spread awareness about the new feature, the company has also launched a flash sale from 8 September 2016 to 5 October 2016. The sale would cover personal loan and car loan products exclusively from the enrolled partners and offer rewards and vouchers of up to Rs.5000 on successful disbursal of the loan.
