FundsTiger: Leveraging Technology and Data for Fast Loans to People & Businesses

FundsTiger: Leveraging Technology and Data for Fast Loans to People & Businesses

(L to R)Neelam Dwivedi, Co-Founder & CEO, Vikram Verma, Co-Founder&CTO ,Manju Tripathi, VP, Credit and Sanctions & Shrinivasa.H.Bhat, Chief Credit and Risk Consultant

(L to R)Neelam Dwivedi, Co-Founder & CEO, Vikram Verma, Co-Founder&CTO

Manju Tripathi, VP, Credit and Sanctions & Shrinivasa.H.Bhat, Chief Credit and Risk Consultant

With every passing year as India reaches 5Trillion Dollar formal GDP size in next few years, the financial space will come with myriad challenges. Vigilant customer centric and technology powered platforms that open a perfect gateway to boost Banks & NBFC lending are needed.The clock is ticking for financial service providers in India to correct the past scams, NPAs and pathetic credit off take stifling SME progress.

Optimistic about the future, Bangalore -based Funds has taken charge and built a fortress in the financial ecosystem. Launched on Republic Day,26th January 2016, the company started to democratize finance for all Indian citizens by revolutionizing the way unsecured loans are being delivered to MSMEs and Retail borrowers.

"When it comes to making good credit worthiness judgments, there is a bit of a slack in the banking system,” asserts Neelam Dwivedi,Co-Founder & CEO, Funds Tiger. Often, Banks provide loans to people who belong to a higher status of the society and already have collaterals. Banks fail to cater to service sector, SME owners and
employees, who are equally honest and credit worthy. Banks use obsolete and slow methods and broken silo systems leading to colossal failures and NPAs. “You need a robust technology platform which is accurate, simple and fast. And, that is where FundsTiger comes into the picture to accelerate lending and avoid the potential mishaps,” avers Vikram Verma,Co-Founder & CTO,FundsTiger.

“FundsTiger is the first FinTech company tointegrate GoI Digi Locker in its platform - and launch their own Loan Chatbot”

FundsTiger is the first FinTech Company to have integrated GoI DigiLocker. FundsTiger generates Bank Statement Analysis and Automated Credit Reports within seconds, leveraging mainstream and alternative signals with outlier detections and early warnings. FundsTiger automates the entire loan process, uses Loan ChatBots and advanced AI, machine learning and data science.

The Journey of Funds Tiger
When Neelam and Vikram - who are IIT Delhi batchmates - ventured into lending, they anticipated that the industry may take a decade to get it all in place. Luckily, past two years, brought tremendous changes to work in their favour - boosting digital lending and validating their core business thesis. 4G network (Jio's entry), Aadhaar Linkage to bank accounts, Demonetization, GST rollout,and banking recapitalization program, had a tremendous impact. Progressive Banks and NBFCs started approaching further validating FundsTiger vision. has 60+ banks & NBFC partnerships toprovide borrowers the most optimum interest rates and terms. "We have a hybrid approach most suited to Indian context,” says Vikram. The company brings a cumulative approach to help borrowers and financial institutions to reap the benefits through both online and offline channels. FundsTiger offers the widest and flexible credit options utilizing its efficient marketplace and matches customers with right options, including loan syndication and loans restructuring.

The Roadmap Ahead
FundsTiger brings Technology prowess, Business acumen and Banking expertise – they have cast their net wide into the FinTech ecosystem, where the company founding team consists of experienced bankers and lending experts Mr. Shrinivasa H Bhat is a veteran banker with over 40 years of banking, credit and risk management expertise. Ms. Manju Tripathi excels in SME and Retail Credit. “Funds Tiger's strong team and technology is instrumental in scaling our lender, partner and borrower ecosystems manifolds,” mentions Neelam.

Further narrating the roadmap ahead, Vikram says “With customer being the Center of our products, we continue to add more technological solutions for faster loan processing with great customer experience.”

Neelam concludes “Our passion is to make credit available to every single creditworthy Indian – and delighting our stakeholders all the way. Our customers vouch for our great customer obsession! Our long term exciting journey is just starting!”