BackDigitising the lending ecosystem
Online PSB Loans Limited is a pioneer in digitising the end-to-end lending ecosystem. The company addresses the challenges of credit distribution to MSMEs and retail borrowers.
PremiumOnline PSB Loans Limited (OPL) is a revolutionary digital credit infrastructure company that develops and integrates cutting-edge technology to automate and digitise lending processes for both borrowers and lenders, resulting in a truly scalable system. The company addresses the challenges of credit distribution to MSMEs and retail borrowers. It develops unique analytics and algorithms for AI/ML-based credit products and offers high-end Fintech solutions to financial institutions.
Jinand Shah, MD & CEO, OPL says “We have already built and are constantly scaling up the highly advanced technology for the Lending ecosystem. The speed and agility of execution are the best in the Fintech Industry. We offer a credit marketplace for borrowers and lenders by simplifying borrower experience and providing ease in credit access. We provide white-labelled solutions for credit institutions that include STP processes and digital monitoring encompassing the lending lifecycle."
OPL is a pioneer in digitising the end-to-end lending ecosystem. SIDBI, State Bank of India, Bank of Baroda, Punjab National Bank, Indian Bank, Bank of India, Canara Bank, Bank of Maharashtra, Central Bank of India, IDBI Bank, Indian Overseas Bank, Punjab & Sind Bank, Union Bank, HDFC ltd., Kotak Mahindra Bank, IDFC Bank, IndusInd Bank, ICICI Bank, Yes Bank, Federal Bank, and others are among their major clients. Furthermore, prominent financial institutions, top public sector banks, and global credit players have made significant investments in the company, thereby holding equity ownership.
OPL has launched the PSBLoansin59Minutes.com platform for the automation of credit to borrowers. The platform is mapped to all current lending processes irrespective of the type of bank/lending institution. PSB59 also provides quality information to lenders to give faster solutions for credit decision-making. Currently, the platform has been adopted by over 1,50,000 bank users encompassing nearly 60% of bank branches in India. The platform has processed 6,17,000 proposals amounting to INR 1,24,000 crore with more than INR 70,000 crore of disbursements. Today, the company has uniquely positioned itself in the digital lending ecosystem.
Online PSB Loans is the only lending marketplace where all the major banks/financial institutions have been integrated on a single platform. "We empower both, Borrowers and Lenders. We provide both lenders and borrowers with the choice to select their preferences for funding. This is the uniqueness that differentiates the platform from other players," says Ronak Shah, Co-founder, and COO, Online PSB Loans.
The solution uses sophisticated algorithms to read and analyse data points from various sources such as IT returns, GST data, Bank Statements, MCA21, Bureau and Fraud Database in real-time while capturing the applicant’s basic details using smart analytics. The platform's APIs make key data easily accessible, and any new data can be easily integrated. Approval of MSME/Retail/ Mudra loans has been ‘fast-tracked’ because of this platform. Launched in November 2018, the platform emerged as India’s largest digital lending portal within three months of starting operations. *
The company is striving to make its infrastructure available to other players across multiple industry sectors. The application will be for bank schemes, government schemes, industry ecosystems, and so on. One of the primary benefits for lending institutions and MSMEs will be AI/ML-based improved grading for MSMEs.
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