You are here: Home » News-ANI » Business
Business Standard

Finway Capital empowers borrowers with easy access to funds

Topics
Business Finance

ANI  |  New Delhi [India] 

Finway Capital, India's first Non-Banking Financial Company (NBFC) that assures 24 hours of Turn Around Time (TAT) on Tuesday introduced predictive intelligence technology to assess the payback capacity of loan seekers and borrowers whose applications are often rejected by financial institutions due to a poor CIBIL score.

Inspired and impressed with Prime Minister Narendra Modi's, 'Everyone is entitled to get credit' mantra, Finway uses Artificial Intelligence (AI) with a human interface model to predict the payback capacity of the loan seeker.

If one's CIBIL score is bad, still he/she still has opportunities because this new methodology works on lenient yet authentic parameters to judge the payback capacity of an individual.

This alternate system is very accurate in assessing the creditworthiness of an individual, minimizing the documentation process and ensuring quick disbursal of loans to people in need.

"We are moving on the same lines of PM Modi's financial inclusion mission that everyone is entitled to get credit. Simple documentation process and instant approvals via fastest online gateways empower Finway Capital to ensure the borrowers with quick and easy access to funds. Although we even provide loans to people without any credit history, we are not burdened with any NPA till date," said founder and CEO, Finway Capital, Rachit Chawla.

"In the next two years, Finway is planning to offer its services in more than ten cities, including the four metros. Simultaneously, people will soon be able to receive all our services through offline loan shops as well," he added.

Finway Capital is working on a motto of 'Making Finance Human' to provide its customers secured and unsecured loans on-time, every-time, and when they need it the most.

The organisation is committed to hassle-free lending to small businesses and salaried employees through a digitally robust system.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, February 20 2018. 17:40 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU