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IndusInd Bank launches 'IndusEasyCredit', a comprehensive digital lending platform

Posted On: 2021-06-17 07:58:45 (Time Zone: UTC)

IndusInd Bank today announced the launch of 'IndusEasyCredit', a comprehensive digital lending platform that enables customers to meet their financial requirements from the comfort of their homes. With this, both existing as well as non-IndusInd Bank customers can instantly avail personal loans or credit cards on a single platform in a completely paperless and digital manner.

A first of its kind proposition, 'IndusEasyCredit' offers a fully digital end to end process that leverages the power of India's public digital infrastructure - 'Indiastack' to offer personal loans and credit cards in a paperless, presence less and cashless manner. The stack leverages more than 35 interfaces to digitally verify KYC and employment information as well as analyse bank statements. It then leverages advanced analytics and machine learning based models to assess eligibility in real time. Post this, the customer can conduct Video KYC and get the loan disbursed into his or her account after executing the agreement digitally; without having to visit a branch or do any lengthy documentation. The stack will also be leveraged by various partners of the Bank.

Speaking about the new proposition, Ms. Charu Mathur, Chief Digital Officer & Head-Business Strategy, IndusInd Bank said, "Over the past few months, we have been constantly working towards creating a comprehensive solution that enables customers with easy access to credit from the comfort and safety of their homes. 'IndusEasyCredit' is a testament to that effort which provides customers with the flexibility to avail a personal loan or a credit card on a single platform, in a completely seamless, paperless, and digital manner. Backed by IndusInd Bank's strong technological prowess, we believe, that this proposition will offer customers a differentiated banking experience."

Existing as well as non-IndusInd Bank customers can avail an instant personal loan by following the below mentioned steps:

- Complete e-KYC and provide basic details to check eligibility (only applicable for non-IndusInd Bank customers)

- Select the amount from pre-approved loan offer as required. Accept the auto populated interest rate, processing fee and EMI amount

- Complete Video KYC (only applicable for non-IndusInd Bank customers)

- Authenticate the request for enabling instant money credit into their account, after digitally signing the agreement

- The money gets transferred to the customer's account instantly on completion of this procedure In order to avail credit card, customers can simply follow the below steps:

- Complete e-KYC and provide basic details to check eligibility (only applicable for non-IndusInd Bank customers)

- Customers will get the pre-approved offer

- They can then select the desired IndusInd Bank Credit Card product

- Complete Video KYC (only applicable for non-IndusInd customers)

- On completion of Video KYC, the said card is dispatched to customer

Currently, customers can only apply for the 'IndusEasyCredit' facility through the Bank's website. It will also be made available shortly on IndusMobile, the Bank's mobile banking application.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.1013.7 as compared to the previous close of Rs. 1033.55. The total number of shares traded during the day was 110717 in over 3808 trades.

The stock hit an intraday high of Rs. 1038.1 and intraday low of 1011. The net turnover during the day was Rs. 113304421.

Source: Equity Bulls

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