Today gig-workers (delivery agents, dog walkers, gardeners, electricians, plumbers, cleaning services providers etc.) have easy access to the jobs of their trade via various online platforms.
Yet they face a severe challenge in accessing credit for fulfilling the basic requirements of the job (like owning a vehicle for commute or buying costly tools) because of 1) lack of fixed income in their bank accounts 2) complicated and time-consuming loan application process.
Our solution is a digital application that verifies identity of the user, builds a credit profile and establishes their need for a loan. The output of this application is a reliable Credit Assessment Memo (CAM) that can be readily consumed by lending institutes for quick loan offers to the gig-worker.
Along with the gig-workers, our platform also enables SME lending institutions (like co-operative banks, NBFCs, small finance banks, credit societies etc.) who are ready to look beyond the salaried individuals for credit advances by providing them with readily consummable accurate credit assessments of the applicants for better and faster credit decisions.