Access to capital for SMEs in India, to become cheaper, faster and easier
Modefin, a leading digital banking solutions provider and Loanwoan.com, an online loan processing platform, come together to give the Make In India mission a huge boost, by enabling access to business capital in just one click.
Bangalore, India: Modefin, a leading digital banking solutions provider, with leading global banks as part of their client portfolio, announced today, that it would be investing an undisclosed amount in Loanwoan.com, an intelligent, automated online loan processing platform.
This partnership between Modefin and Loanwoan.com is poised to make an SME’s life simpler by making access to business capital quicker and simpler. Loanwoan.com conducts a thorough pre-evaluation of the loan applicant; from profile assessment, to due diligence, rate of interest comparisons, to finally matching the loan seeker with the most suitable loan provider, quickly and easily. For the SME looking to borrow capital, Loanwoan.com offers convenience, intelligence and agility, that eliminates tedious legwork and time spent on trying to identify the best loan product in the market.
Loanwoan stands to gain from the technology expertise of Modefin, a leading innovator in AI-powered digital banking solutions. Modefin understands that simplicity, combined with smart intelligence enhances the digital banking customer experience. With over 60+ leading international banks using Modefin’s digital banking platform, the company has established itself as a leading solutions provider in the “complete omni channel digital banking platform” space, in less than a decade. Today, Modefin is looking to consolidate its market leader position, by creating a global footprint in several international markets including the Middle East and South East Asia.
With this investment, Modefin believes that Loanwoan will create an enabling platform for SMEs who are looking for capital that reduces tedious paperwork and brings down time to get an approved loan. With Loanwoan’s online automated platform powered by Modefin’s innovative technology, access to credit and funds will be cheaper, faster and reduce time-to-market for an SME. “Today, SMEs are looking for capital to infuse into their business. By facilitating and simplifying the whole process of access to business capital, Modefin and Loanwoan will fuel the entrepreneurial spirit in India, boosting the economy,” said Mr.Amarnath Chowdary, CEO, Modefin.
With several FIs already on board, a solid technology platform and a thorough understanding of a customer’s requirements, Modefin and Loanwoan are all set to bring the dreams of many SMEs to fruition. One simple click on the automated platform is all that it takes.
About Modefin: Modefin is a Bangalore-based technology company, delivering digital banking solutions to the Banking & Financial Services industry globally. Running successfully for close to a decade, with more than 60 international banking clients using its Digital Banking Platform, called “Miracle Bank”, Modefin is geared to expand and consolidate its market leading position and be the go-to, one-stop solutions platform creating infinite banking possibilities.
About Loanwoan.com: Loanwoan.com is an online, automated, one-click DSA (Direct Sales Agent) platform, facilitating SMEs and business capital solution providers to work with each other, by simplifying access to credit, and educing time, energy and effort to procure a loan.
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