Banking Kolkata/IBNS: SBM Bank India announced that it has partnered with CredAvenue to facilitate access to funds at affordable cost for NBFCs and Fintechs.
CredAvenue is an Indian tech enabled online debt platform connecting corporate borrowers or originators with lenders and investors.
Neeraj Sinha, Head - Retail and Consumer Banking, SBM Bank India, said, “The partnership makes it easier for borrowers to grant loans through digital platforms and covers the entire loan processing cycle without manual intervention, from on-boarding to disbursement to monitoring.”
CredAvenue would support SBM Bank India in the end-to-end partner discovery, provide underwriting tools, automated operations workflows, risk management and reporting solutions.
Irfan Mohammed, Chief Business Officer, CredAvenue said, “If you take the lender’s perspective, all you have to do is integrate with the platform, choose multiple partners, set your credit and product parameters, and get going as the platform gets configured to match your requirements. From an NBFC/Fintech partner’s perspective, it entails access to multiple lenders through a one-time integration.”
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