Clix Capital Services Private Limited ("Clix Capital"), formerly GE Money Financial Services Private Limited, has partnered with Airtel and Seynse Technologies to launch India's first fully digital mobile financing program in India.
The partnership aims to leverage technology and analytical algorithms created by Seynse Technologies, to provide instant loan approval. The device finance program will be available in 21 cities in India.
Powered by technology, data, and machine learning algorithms, Clix Capital offers a full spectrum of financing solutions for individuals and institutions. Clix Capital uses extensive algorithms leveraging alternate data in addition to the traditional credit information, to create a snapshot of the borrower's creditworthiness and likelihood of repaying the loan. This unique methodology enables Clix Capital to evaluate applications, underwrite credit risks, and provide instant loan offer for customers digitally.
"At Clix Capital we are using cutting edge technology, analytics and artificial intelligence to drive new and disruptive models of lending. We believe these models have the capacity to significantly expand financial inclusion, provide one-stop shop lending solution to a large number of customers and radically alter the customer service experience," said chairman Clix Capital, Pramod Bhasin.
"We are delighted to partner with Airtel and Seynse Technologies in their end-to-end frictionless platform, which coupled with our advanced digital lending capabilities, will provide excellent services to our end customers. We look forward to working with them to constantly improve the overall customer experience and delight," added Bhasin.
"At Clix Capital we take pride in using cutting edge technology and analytics to provide a seamless financing experience to our customers. We are pleased to partner with Airtel and Seynse Technologies for the launch of the fully digitized platform and look forward to setting new benchmarks of customer service with our speed, simplicity and innovation. In the first of its kind offering in India, customers can apply for our loans online and get credit approval instantly. The entire process involves only a few clicks and can be completed in less than five minutes. This is the first of many partnerships we plan to launch with leading online and offline platforms and sellers in the near future," said CEO Clix Capital, Bhavesh Gupta.
This offer is available exclusively for devices listed on the Airtel Online Store [www.airtel.in/onlinestore]. Under this partnership, iPhone 7 will be available at a down payment starting from Rs. 7,777 and 24 easy monthly installments of Rs. 2,499. In addition to the principal and interest repayment component, the monthly installments have a built-in high-end Airtel postpaid plan which offers 30 GB data, unlimited calling (local, STD, national roaming), and Airtel Secure package that covers the device against any physical damage and offers cyber protection.
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