Fintech company Rubique today launched a digital platform which is aimed at reducing paperwork for MSME loan applications.
Fintech company Rubique today launched a digital platform which is aimed at reducing paperwork for MSME (Micro Small and Medium Enterprises) loan applications.
'Tech Assisted Business', which can be activated on tablets, will process SME loan applications in quick time.
Rubique will be offering this solution under five product categories which cover 2 secured loan types (loan against property and micro enterprise loans), 3 unsecured types (micro business loan of over Rs 5 lakh), unsecured business loan and commercial vehicle finance.
Rubique Advantage feature will further help in running eligibility checks which will ease decisions on loan applications. It will offer a real-time credit bureau check and keep track of the financial institutions’ systems status.
Additionally, this feature will have the IRIS scan for Aadhaar authentication and a generation of credit assessment memo (CAM), among others, which will ease a credit underwriter's job. (A credit underwriter assesses the creditworthiness of a party.)Founder and CEO of Rubique Manavjeet Singh said, "For the financial institutions, lending without substantial financial data becomes a risky business. We are here to eliminate these barriers and make the lending processes beneficial for both the lenders and the borrowers."